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US Bancorp DE Has $10.19 Million Position in Newmont Corporation $NEM

Newmont logo with Basic Materials background

US Bancorp DE lessened its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 3.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 174,955 shares of the basic materials company's stock after selling 6,139 shares during the period. US Bancorp DE's holdings in Newmont were worth $10,193,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEM. Cloud Capital Management LLC bought a new stake in Newmont during the 1st quarter valued at $26,000. Colonial Trust Advisors increased its stake in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 429 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after acquiring an additional 347 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Newmont in the 1st quarter worth about $32,000. Finally, TCTC Holdings LLC raised its holdings in shares of Newmont by 123.1% in the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company's stock worth $32,000 after acquiring an additional 362 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NEM. Weiss Ratings lowered shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. CIBC set a $112.00 target price on Newmont and gave the company an "outperformer" rating in a report on Friday. Scotiabank lifted their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a report on Monday, July 28th. TD Securities lifted their price objective on shares of Newmont from $67.00 to $89.00 and gave the stock a "hold" rating in a report on Wednesday. Finally, Macquarie downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Newmont has an average rating of "Moderate Buy" and a consensus target price of $81.10.

View Our Latest Stock Analysis on NEM

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director owned 36,869 shares of the company's stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock worth $1,132,065 over the last 90 days. Corporate insiders own 0.05% of the company's stock.

Newmont Trading Down 0.2%

NYSE NEM opened at $85.07 on Friday. The stock has a market capitalization of $93.45 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 0.95 and a beta of 0.34. Newmont Corporation has a one year low of $36.86 and a one 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 business's fifty day moving average is $76.77 and its 200-day moving average is $62.55.

Newmont (NYSE:NEM - Get Free Report) last released 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. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. During the same period in the previous year, the business posted $0.72 EPS. The business's revenue for the quarter was up 20.8% compared to the same quarter last year. Equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced 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 was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont's dividend payout ratio is currently 17.95%.

Newmont Profile

(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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