Tcfg Wealth Management LLC Sells 11,216 Shares of Newmont Corporation $NEM

Key Points

• Tcfg Wealth Management LLC reduced its Newmont Corporation holdings by 50.4%, selling 11,216 shares and ending with 11,042 shares valued at $643,000.
• Multiple hedge funds adjusted their positions in Newmont, with Brighton Jones LLC increasing its stake by 15.7% and NBC Securities Inc. showing a dramatic increase of 108,025%.
• Newmont's stock recently saw a 2.0% rise, and the company reported $1.43 EPS for the latest quarter, surpassing analyst estimates significantly.

Tcfg Wealth Management LLC reduced its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 50.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 11,042 shares of the basic materials company's stock after selling 11,216 shares during the period. Tcfg Wealth Management LLC's holdings in Newmont were worth $643,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after acquiring an additional 1,847 shares during the period. NBC Securities Inc. grew its stake in Newmont by 108,025.0% in the first quarter. NBC Securities Inc. now owns 4,325 shares of the basic materials company's stock worth $208,000 after purchasing an additional 4,321 shares in the last quarter. Merit Financial Group LLC increased its holdings in Newmont by 107.8% during the 1st quarter. Merit Financial Group LLC now owns 16,998 shares of the basic materials company's stock worth $821,000 after purchasing an additional 8,817 shares during the period. SeaCrest Wealth Management LLC bought a new stake in Newmont during the 1st quarter valued at $269,000. Finally, Wedmont Private Capital lifted its holdings in shares of Newmont by 28.9% in the 1st quarter. Wedmont Private Capital now owns 11,613 shares of the basic materials company's stock worth $561,000 after buying an additional 2,602 shares during the period. Institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. National Bankshares restated an "outperform" rating on shares of Newmont in a research note on Monday, September 22nd. Scotiabank raised their target price on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. BNP Paribas lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Royal Bank Of Canada upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. Finally, Stifel Nicolaus started coverage on shares of Newmont in a research note on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.18.

Newmont Stock Up 2.0%

NYSE:NEM opened at $88.60 on Tuesday. The company's 50-day simple moving average is $74.87 and its 200-day simple moving average is $61.56. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $89.37. The stock has a market capitalization of $97.32 billion, a P/E ratio of 15.91, a P/E/G ratio of 0.97 and a beta of 0.34.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. Newmont's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. On average, equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the sale, the director owned 36,869 shares of the company's stock, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock valued at $1,132,065 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.

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