Truist Financial Corp Sells 5,147 Shares of Newmont Corporation $NEM

Key Points

• Truist Financial Corp reduced its stake in Newmont Corporation by 4.4%, selling 5,147 shares and retaining 113,151 shares with a value of $6.59 million as of the last quarter.
• Insiders at Newmont have recently sold a total of 16,249 shares worth over $1.1 million, contributing to a 17.70% decrease in CAO Brian Tabolt's position and a 5.34% decrease in Director Bruce R. Brook's holdings.
• Newmont's quarterly earnings surpassed estimates, reporting $1.43 earnings per share and a revenue increase of 20.8% year-over-year, along with a quarterly dividend of $0.25 per share.

Truist Financial Corp lessened its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 4.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,151 shares of the basic materials company's stock after selling 5,147 shares during the period. Truist Financial Corp's holdings in Newmont were worth $6,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Newmont by 11.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company's stock worth $101,000 after buying an additional 185 shares during the period. Aaron Wealth Advisors LLC raised its holdings 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. Hemington Wealth Management lifted its stake in Newmont by 25.2% in the first quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock worth $46,000 after acquiring an additional 194 shares during the period. Ipswich Investment Management Co. Inc. grew its holdings in Newmont by 1.4% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock worth $689,000 after acquiring an additional 200 shares in the last quarter. Finally, SOA Wealth Advisors LLC. increased its position in Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the period. Institutional investors own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

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

Newmont Stock Performance

Shares of NEM stock opened at $88.60 on Tuesday. The business has a fifty day moving average of $74.87 and a 200 day moving average of $61.56. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $89.37. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The firm has a market capitalization of $97.32 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The company's revenue was up 20.8% on a year-over-year basis. As a group, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Newmont in a research report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price target for the company. Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. UBS Group boosted their price target on Newmont from $70.00 to $92.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Finally, CIBC raised their price objective on Newmont from $74.00 to $78.00 and gave the company a "neutral" rating in a research report on Friday, September 12th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $74.18.

About Newmont

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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