CVA Family Office LLC Increases Stake in Newmont Corporation $NEM

CVA Family Office LLC boosted its stake in Newmont Corporation (NYSE:NEM) by 45.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,473 shares of the basic materials company’s stock after purchasing an additional 462 shares during the quarter. CVA Family Office LLC’s holdings in Newmont were worth $86,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new stake in shares of Newmont during the 1st quarter valued at $26,000. Colonial Trust Advisors boosted its holdings in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 429 shares during the last quarter. Concord Wealth Partners grew its position in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares during the period. Evermay Wealth Management LLC increased its stake in Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 347 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NEM. Stifel Canada upgraded Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Stifel Nicolaus assumed coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a “buy” rating and a $73.00 price objective for the company. TD Securities raised their target price on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. BNP Paribas Exane lifted their target price on shares of Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Finally, National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Five analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $90.59.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the transaction, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction 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. This trade represents a 5.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock worth $1,132,065 in the last 90 days. 0.05% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of NEM stock opened at $83.25 on Friday. The firm has a fifty day simple moving average of $81.17 and a 200-day simple moving average of $65.56. The company has a market capitalization of $91.45 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.57 and a beta of 0.34. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. 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 issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.69%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. Equities research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Newmont’s dividend payout ratio is currently 15.53%.

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.