Cetera Advisors LLC Increases Stock Holdings in Newmont Co. (NYSE:NEM)

Cetera Advisors LLC grew its stake in Newmont Co. (NYSE:NEMGet Rating) by 63.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,958 shares of the basic materials company’s stock after acquiring an additional 16,719 shares during the quarter. Cetera Advisors LLC’s holdings in Newmont were worth $2,563,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Pacific Center for Financial Services bought a new position in Newmont in the first quarter valued at about $30,000. Hoey Investments Inc. purchased a new position in Newmont in the 2nd quarter worth approximately $30,000. Crewe Advisors LLC grew its holdings in Newmont by 98.0% during the 2nd quarter. Crewe Advisors LLC now owns 584 shares of the basic materials company’s stock valued at $35,000 after buying an additional 289 shares in the last quarter. Herold Advisors Inc. purchased a new position in Newmont during the 1st quarter valued at approximately $48,000. Finally, Tcwp LLC bought a new position in shares of Newmont during the 1st quarter valued at approximately $48,000. 81.11% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NEM stock opened at $46.13 on Wednesday. The firm’s 50 day moving average is $42.81 and its 200 day moving average is $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. The stock has a market capitalization of $36.62 billion, a P/E ratio of 36.61 and a beta of 0.25. Newmont Co. has a 12 month low of $37.45 and a 12 month high of $86.37.

Newmont (NYSE:NEMGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Newmont had a net margin of 8.28% and a return on equity of 8.07%. On average, sell-side analysts anticipate that Newmont Co. will post 1.89 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be paid a dividend of $0.55 per share. The ex-dividend date is Wednesday, December 7th. This represents a $2.20 annualized dividend and a yield of 4.77%. Newmont’s dividend payout ratio (DPR) is 174.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Eight Capital dropped their price target on Newmont to $58.00 in a research note on Thursday, October 27th. Canaccord Genuity Group upgraded Newmont from a “hold” rating to a “buy” rating and dropped their price target for the stock from $66.00 to $60.00 in a research report on Wednesday, July 27th. Canaccord Genuity Group upgraded Newmont from a “hold” rating to a “buy” rating and dropped their price target for the stock from $66.00 to $60.00 in a research report on Wednesday, July 27th. Barclays decreased their price target on Newmont from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Fundamental Research reaffirmed a “buy” rating and issued a $52.00 price target on shares of Newmont in a report on Tuesday, November 15th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Newmont currently has an average rating of “Hold” and an average price target of $63.33.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $42.71, for a total value of $469,810.00. Following the completion of the sale, the chief executive officer now directly owns 232,949 shares in the company, valued at $9,949,251.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Mark Casper sold 4,890 shares of Newmont stock in a transaction that occurred 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 transaction, the insider now directly owns 18,217 shares in the company, valued at approximately $764,749.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $42.71, for a total transaction of $469,810.00. Following the sale, the chief executive officer now directly owns 232,949 shares of the company’s stock, valued at $9,949,251.79. The disclosure for this sale can be found here. Insiders sold a total of 32,890 shares of company stock valued at $1,405,502 in the last quarter. 0.11% of the stock is currently owned by company insiders.

Newmont Company Profile

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.