Valicenti Advisory Services Inc. Has $5.82 Million Stake in Newmont Corporation $NEM

Key Points

• Valicenti Advisory Services Inc. reduced its stake in Newmont Corporation by 3.0%, owning 99,875 shares valued at approximately $5.82 million, making it 23rd in their investment portfolio.
• Newmont reported a quarterly earnings per share (EPS) of $1.43, significantly surpassing the consensus estimate of $0.95, with year-over-year revenue increasing by 20.8% to $5.32 billion.
• The company announced a quarterly dividend of $0.25 per share, which will be paid on September 29th, representing an annualized dividend of $1.00 and a yield of 1.2%.

Valicenti Advisory Services Inc. trimmed its stake in Newmont Corporation (NYSE:NEM - Free Report) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,875 shares of the basic materials company's stock after selling 3,053 shares during the period. Newmont comprises about 1.4% of Valicenti Advisory Services Inc.'s investment portfolio, making the stock its 23rd biggest position. Valicenti Advisory Services Inc.'s holdings in Newmont were worth $5,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SOA Wealth Advisors LLC. grew its position in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in Newmont in the 1st quarter worth $26,000. Colonial Trust Advisors grew its position in Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after purchasing an additional 429 shares during the last quarter. Financial Management Professionals Inc. grew its position in Newmont by 274.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company's stock worth $35,000 after purchasing an additional 444 shares during the last quarter. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of Newmont by 92.3% during the 2nd quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company's stock worth $36,000 after acquiring an additional 300 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 1.8%

Shares of NEM stock opened at $85.17 on Friday. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $86.62. The company has a market capitalization of $93.55 billion, a P/E ratio of 15.29, a P/E/G ratio of 0.97 and a beta of 0.34. The firm has a 50-day moving average price of $72.02 and a 200 day moving average price of $59.72. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

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

Newmont Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on NEM shares. Stifel Nicolaus started coverage on shares of Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price objective for the company. CIBC raised their price objective on shares of Newmont from $74.00 to $78.00 and gave the stock a "neutral" rating in a report on Friday, September 12th. Macquarie downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, BNP Paribas downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $73.38.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's 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 directly owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 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 approximately $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,246 shares of company stock valued at $1,253,559. Insiders own 0.05% of the company's stock.

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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