Checchi Capital Advisers LLC Increases Stock Holdings in Newmont Co. (NYSE:NEM)

Checchi Capital Advisers LLC increased its stake in shares of Newmont Co. (NYSE:NEMGet Rating) by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,391 shares of the basic materials company’s stock after purchasing an additional 576 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Newmont were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. Victory Capital Management Inc. increased its position in Newmont by 14.5% during the 1st quarter. Victory Capital Management Inc. now owns 2,101,138 shares of the basic materials company’s stock worth $154,185,000 after purchasing an additional 266,681 shares in the last quarter. Clearstead Advisors LLC grew its holdings in Newmont by 8.6% in the 1st quarter. Clearstead Advisors LLC now owns 10,814 shares of the basic materials company’s stock valued at $859,000 after buying an additional 853 shares during the period. Boyer & Corporon Wealth Management LLC grew its holdings in Newmont by 1.9% in the 1st quarter. Boyer & Corporon Wealth Management LLC now owns 94,537 shares of the basic materials company’s stock valued at $7,511,000 after buying an additional 1,736 shares during the period. Prospera Financial Services Inc grew its holdings in Newmont by 139.1% in the 1st quarter. Prospera Financial Services Inc now owns 8,607 shares of the basic materials company’s stock valued at $684,000 after buying an additional 5,007 shares during the period. Finally, First City Capital Management Inc. purchased a new stake in Newmont in the 1st quarter valued at about $283,000. Hedge funds and other institutional investors own 81.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Eight Capital lowered their price target on Newmont to $58.00 in a report on Thursday, October 27th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, September 6th. StockNews.com began coverage on Newmont in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. TD Securities reduced their price objective on Newmont from $49.00 to $47.00 and set a “hold” rating on the stock in a research note on Wednesday, November 2nd. Finally, National Bank Financial lifted their price objective on Newmont from C$79.00 to C$80.00 in a research note on Thursday, October 13th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.33.

Newmont Stock Performance

Shares of NEM opened at $46.13 on Wednesday. The business’s 50 day moving average is $42.81 and its two-hundred day moving average is $51.09. Newmont Co. has a 52-week low of $37.45 and a 52-week high of $86.37. The firm has a market cap of $36.62 billion, a price-to-earnings ratio of 36.61 and a beta of 0.25. The company has a quick ratio of 2.29, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Newmont (NYSE:NEMGet Rating) last announced its 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). Newmont had a net margin of 8.28% and a return on equity of 8.07%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. Analysts forecast that Newmont Co. will post 1.89 EPS for the current fiscal year.

Newmont Announces Dividend

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

Insider Buying and Selling at Newmont

In other news, insider Mark Casper sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $41.98, for a total value of $205,282.20. Following the completion of the sale, the insider now directly owns 18,217 shares in the company, valued at approximately $764,749.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Mark Casper sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $41.98, for a total value of $205,282.20. Following the completion of the sale, the insider now directly owns 18,217 shares in the company, valued at approximately $764,749.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the business’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 $469,810.00. Following the completion of the sale, the chief executive officer now 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 have sold a total of 32,890 shares of company stock valued at $1,405,502 in the last three months. Corporate insiders own 0.11% of the company’s stock.

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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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