Patriot Financial Group Insurance Agency LLC Has $2 Million Stock Position in Newmont Corporation $NEM

Patriot Financial Group Insurance Agency LLC reduced its holdings in Newmont Corporation (NYSE:NEM) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 34,396 shares of the basic materials company’s stock after selling 635 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Newmont were worth $2,004,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NEM. Brighton Jones LLC increased its position in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares during the period. NBC Securities Inc. increased its position in shares of Newmont by 108,025.0% during the first quarter. NBC Securities Inc. now owns 4,325 shares of the basic materials company’s stock worth $208,000 after buying an additional 4,321 shares during the period. Merit Financial Group LLC increased its position in shares of Newmont by 107.8% during the first quarter. Merit Financial Group LLC now owns 16,998 shares of the basic materials company’s stock worth $821,000 after buying an additional 8,817 shares during the period. RFG Advisory LLC acquired a new stake in shares of Newmont during the first quarter worth $1,019,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Newmont by 7.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,264 shares of the basic materials company’s stock worth $785,000 after buying an additional 1,089 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Up 0.5%

Newmont stock opened at $86.35 on Friday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $87.93. The firm has a market capitalization of $94.85 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34. The firm’s fifty day moving average price is $73.95 and its two-hundred day moving average price is $60.81. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is 17.95%.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the firm’s 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 transaction, the director directly owned 38,949 shares of the company’s stock, valued at $2,905,205.91. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. The trade was 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 have sold 14,169 shares of company stock valued at $955,286. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

NEM has been the subject of several recent analyst reports. BNP Paribas cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Scotiabank lifted their price target 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. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group raised their target price on Newmont from $63.10 to $77.30 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.38.

Newmont 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.