Cetera Advisors LLC boosted its position in Newmont Co. (NYSE:NEM – Get Rating) by 63.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,958 shares of the basic materials company’s stock after buying an additional 16,719 shares during the quarter. Cetera Advisors LLC’s holdings in Newmont were worth $2,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in NEM. Checchi Capital Advisers LLC boosted its position in Newmont by 9.9% in the second quarter. Checchi Capital Advisers LLC now owns 6,391 shares of the basic materials company’s stock worth $289,000 after purchasing an additional 576 shares during the last quarter. King Luther Capital Management Corp increased its position in Newmont by 10.9% during the 2nd quarter. King Luther Capital Management Corp now owns 1,603,861 shares of the basic materials company’s stock valued at $95,702,000 after buying an additional 157,132 shares in the last quarter. Moreno Evelyn V acquired a new position in shares of Newmont in the second quarter valued at about $534,000. FORA Capital LLC purchased a new stake in shares of Newmont in the second quarter worth about $3,736,000. Finally, Keel Point LLC boosted its position in Newmont by 112.8% during the second quarter. Keel Point LLC now owns 11,172 shares of the basic materials company’s stock worth $511,000 after purchasing an additional 5,921 shares in the last quarter. Hedge funds and other institutional investors own 81.11% of the company’s stock.
Newmont Trading Up 2.5 %
Shares of NYSE:NEM opened at $46.13 on Wednesday. The stock has a market capitalization of $36.62 billion, a PE ratio of 36.61 and a beta of 0.25. Newmont Co. has a 1 year low of $37.45 and a 1 year high of $86.37. The firm has a fifty day moving average price of $42.81 and a 200 day moving average price of $51.09. The company has a current ratio of 2.72, a quick ratio of 2.29 and a debt-to-equity ratio of 0.28.
Newmont Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend is Wednesday, December 7th. Newmont’s dividend payout ratio (DPR) is presently 174.60%.
Analyst Ratings Changes
Several research firms have issued reports on NEM. National Bank Financial raised their target price on Newmont from C$79.00 to C$80.00 in a research note on Thursday, October 13th. Credit Suisse Group increased their target price on Newmont to $54.00 in a research note on Monday. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, September 12th. They issued a “buy” rating and a $53.00 price objective for the company. Barclays lowered their target price on Newmont from $55.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Eight Capital decreased their price objective on Newmont to $58.00 in a report on Thursday, October 27th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.33.
Insider Buying and Selling
In related news, insider Mark Casper sold 4,890 shares of the stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total value of $205,282.20. Following the completion of the transaction, the insider now owns 18,217 shares of the company’s stock, valued at $764,749.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Newmont news, COO Robert D. Atkinson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $42.71, for a total value of $128,130.00. Following the transaction, the chief operating officer now directly owns 42,947 shares of the company’s stock, valued at $1,834,266.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark Casper sold 4,890 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $41.98, for a total transaction of $205,282.20. Following the completion of the sale, the insider now owns 18,217 shares in the company, valued at $764,749.66. The disclosure for this sale can be found here. Insiders sold 32,890 shares of company stock valued at $1,405,502 over the last quarter. Corporate insiders own 0.11% 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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.
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