Wealth Enhancement Advisory Services LLC Has $12.72 Million Stock Holdings in Newmont Corporation $NEM

Key Points

• Wealth Enhancement Advisory Services LLC has increased its stake in Newmont Corporation by 11.7%, now owning 212,357 shares valued at approximately $12.72 million.
• A number of institutional investors significantly altered their positions, with SOA Wealth Advisors LLC raising its holdings by 64.0% in the first quarter, while corporate insiders have sold a total of 19,246 shares over the past three months.
• Newmont reported earnings of $1.43 EPS for the last quarter, surpassing estimates and showcasing a revenue increase of 20.8% year over year, with a promising dividend yield of 1.2%.

Wealth Enhancement Advisory Services LLC raised its stake in Newmont Corporation (NYSE:NEM - Free Report) by 11.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 212,357 shares of the basic materials company's stock after acquiring an additional 22,288 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Newmont were worth $12,720,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in NEM. Bessemer Group Inc. grew its position in Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock worth $569,000 after purchasing an additional 1,379 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Newmont in the 1st quarter worth approximately $423,000. Spire Wealth Management boosted its holdings in shares of Newmont by 125.0% in the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after buying an additional 1,309 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in shares of Newmont in the 1st quarter valued at approximately $202,000. Finally, Bayforest Capital Ltd boosted its stake in Newmont by 269.4% in the 1st quarter. Bayforest Capital Ltd now owns 8,829 shares of the basic materials company's stock worth $426,000 after purchasing an additional 6,439 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction 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 $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total value of $154,923.43. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 19,246 shares of company stock worth $1,253,559 in the last quarter. 0.05% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Stifel Canada upgraded Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. The Goldman Sachs Group boosted their price target on shares of Newmont from $63.10 to $77.30 and gave the company a "neutral" rating in a report on Thursday, September 11th. Finally, Stifel Nicolaus began coverage on Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price objective for the company. Four equities research 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $72.31.

Newmont Price Performance

Shares of Newmont stock traded up $2.02 during midday trading on Monday, hitting $83.74. 14,015,439 shares of the company were exchanged, compared to its average volume of 11,060,405. The firm has a market cap of $91.98 billion, a P/E ratio of 15.03, a PEG ratio of 0.96 and a beta of 0.33. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $83.89. The firm has a 50 day simple moving average of $69.47 and a 200-day simple moving average of $58.52. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $4.70 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business's 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 year.

Newmont Dividend Announcement

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

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.