U.S. Capital Wealth Advisors LLC Has $10.95 Million Stake in Newmont Corporation $NEM

Key Points

• U.S. Capital Wealth Advisors LLC reduced its stake in Newmont Corporation by 23.1% in Q2, owning 187,943 shares valued at approximately $10.95 million after selling 56,436 shares.
• Wall Street analysts have mixed ratings for Newmont, with upgrades from Goldman Sachs and Stifel Canada, while BNP Paribas downgraded its rating to "hold."
• Newmont recently announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend of $1.00 and a yield of 1.2%.

U.S. Capital Wealth Advisors LLC lessened its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 23.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,943 shares of the basic materials company's stock after selling 56,436 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Newmont were worth $10,950,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bessemer Group Inc. increased its stake in Newmont by 13.2% in the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after acquiring an additional 1,379 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Newmont in the 1st quarter valued at approximately $423,000. Spire Wealth Management grew its stake in shares of Newmont by 125.0% in the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock valued at $114,000 after purchasing an additional 1,309 shares during the period. Flagship Harbor Advisors LLC bought a new stake in shares of Newmont in the 1st quarter valued at approximately $202,000. Finally, Bayforest Capital Ltd grew its position in Newmont by 269.4% in the first quarter. Bayforest Capital Ltd now owns 8,829 shares of the basic materials company's stock valued at $426,000 after acquiring an additional 6,439 shares during the period. Institutional investors own 68.85% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NEM shares. BNP Paribas cut Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. The Goldman Sachs Group upped their price objective on shares of Newmont from $63.10 to $77.30 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. Raymond James Financial upped their price objective on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Stifel Canada upgraded Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $72.31.

Newmont Stock Performance

Shares of NEM stock opened at $81.68 on Monday. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $82.05. The firm has a market cap of $89.72 billion, a PE ratio of 14.66, a P/E/G ratio of 0.96 and a beta of 0.33. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The company's fifty day simple moving average is $69.47 and its 200-day simple moving average is $58.52.

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

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont's dividend payout ratio is presently 17.95%.

Insider Activity

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, 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 available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total transaction of $154,923.43. Following the completion of the transaction, the director directly owned 38,949 shares in the company, valued at approximately $2,905,205.91. This represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,246 shares of company stock valued at $1,253,559 over the last ninety days. 0.05% of the stock is currently owned by company insiders.

Newmont Company 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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