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Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Sells 66,549 Shares of Newmont Corporation $NEM

Newmont logo with Basic Materials background

Key Points

  • Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. reduced its holdings in Newmont Corporation by 68.9%, selling 66,549 shares and retaining 30,060 shares with a total value of $1,751,000.
  • Several institutional investors increased their stakes in Newmont Corporation, with IVC Wealth Advisors and Hemington Wealth Management growing their holdings by 1.3% and 17.6%, respectively.
  • Newmont announced a quarterly dividend of $0.25 per share, yielding 1.1%, highlighting the company's ongoing commitment to returning value to shareholders.
  • MarketBeat previews top five stocks to own in November.

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. cut its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 68.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,060 shares of the basic materials company's stock after selling 66,549 shares during the period. Newmont makes up approximately 8.3% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s investment portfolio, making the stock its 3rd largest position. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings in Newmont were worth $1,751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hemington Wealth Management grew its stake in shares of Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company's stock valued at $66,000 after acquiring an additional 170 shares in the last quarter. IVC Wealth Advisors LLC grew its stake in shares of Newmont by 1.3% in the second quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company's stock valued at $813,000 after acquiring an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Newmont by 11.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company's stock valued at $101,000 after acquiring an additional 185 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Newmont by 4.4% in the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company's stock valued at $260,000 after acquiring an additional 190 shares in the last quarter. Finally, Chelsea Counsel Co. grew its stake in shares of Newmont by 1.0% in the second quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company's stock valued at $1,067,000 after acquiring an additional 190 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NEM has been the topic of several research reports. Raymond James Financial set a $96.00 price target on shares of Newmont in a research note on Friday, October 10th. Scotiabank increased their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. BNP Paribas downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Finally, Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Four research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.59.

Get Our Latest Report on NEM

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The transaction 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 stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is currently owned by insiders.

Newmont Stock Down 7.6%

NEM stock opened at $90.76 on Friday. The stock has a market capitalization of $99.69 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 1.07 and a beta of 0.34. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58. The firm has a 50-day moving average price of $79.24 and a 200-day moving average price of $63.97.

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, topping analysts' consensus estimates of $0.95 by $0.48. The firm 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%. The business'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 business earned $0.72 earnings per share. As a group, equities research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were issued 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 is 17.95%.

About Newmont

(Free Report)

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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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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