Yousif Capital Management LLC Has $8.63 Million Stock Position in Newmont Corporation $NEM

Key Points

• Yousif Capital Management LLC reduced its position in Newmont Corporation by 2.7%, holding 148,201 shares valued at approximately $8.63 million at the end of the second quarter.
• Several hedge funds increased their investment in Newmont, with MGO One Seven LLC increasing its holdings by 9.2% and CWM LLC by 137.6% during the same period.
• Newmont recently announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 1.1% and a payout ratio of 17.95%.

Yousif Capital Management LLC cut its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 2.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,201 shares of the basic materials company's stock after selling 4,044 shares during the period. Yousif Capital Management LLC's holdings in Newmont were worth $8,634,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. MGO One Seven LLC raised its holdings in shares of Newmont by 9.2% in the second quarter. MGO One Seven LLC now owns 61,964 shares of the basic materials company's stock valued at $3,610,000 after purchasing an additional 5,236 shares during the last quarter. Cypress Capital Group raised its holdings in shares of Newmont by 6.5% in the second quarter. Cypress Capital Group now owns 48,549 shares of the basic materials company's stock valued at $2,828,000 after purchasing an additional 2,959 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Newmont by 2.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 826,754 shares of the basic materials company's stock valued at $48,570,000 after purchasing an additional 19,728 shares during the last quarter. CWM LLC raised its holdings in shares of Newmont by 137.6% in the second quarter. CWM LLC now owns 44,356 shares of the basic materials company's stock valued at $2,584,000 after purchasing an additional 25,686 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Newmont by 34.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 112,452 shares of the basic materials company's stock valued at $6,560,000 after purchasing an additional 28,543 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. National Bankshares reissued an "outperform" rating on shares of Newmont in a research note on Monday, September 22nd. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada raised shares of Newmont from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. CIBC set a $112.00 target price on shares of Newmont and gave the company an "outperformer" rating in a research note on Friday. Finally, Scotiabank raised their target price on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research note on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Newmont presently has an average rating of "Moderate Buy" and an average target price of $83.18.

Insider Activity

In other news, Director Bruce R. Brook sold 2,080 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the sale, 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 SEC, which can be accessed through this link. Also, 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 transaction of $190,980.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is owned by company insiders.

Newmont Trading Up 5.0%

NEM stock opened at $89.36 on Tuesday. 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 company has a fifty day moving average price of $77.25 and a two-hundred day moving average price of $62.93. Newmont Corporation has a one year low of $36.86 and a one year high of $89.42. The stock has a market cap of $98.16 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 0.94 and a beta of 0.34.

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

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont's payout ratio is presently 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.

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