Newmont Corporation $NEM Shares Purchased by Cwm LLC

Cwm LLC boosted its holdings in Newmont Corporation (NYSE:NEM) by 137.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,356 shares of the basic materials company’s stock after purchasing an additional 25,686 shares during the quarter. Cwm LLC’s holdings in Newmont were worth $2,584,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC boosted its holdings in Newmont by 59.6% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after purchasing an additional 5,848 shares during the period. Generate Investment Management Ltd boosted its holdings in Newmont by 25.9% in the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after purchasing an additional 77,865 shares during the period. Bessemer Group Inc. boosted its holdings in Newmont by 13.2% in the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock worth $569,000 after purchasing an additional 1,379 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in Newmont in the first quarter worth $423,000. Finally, Spire Wealth Management boosted its holdings in shares of Newmont by 125.0% during the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock valued at $114,000 after acquiring an additional 1,309 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

NEM stock opened at $90.76 on Friday. The company has a market capitalization of $99.69 billion, a P/E ratio of 16.29, a PEG ratio of 0.99 and a beta of 0.34. The company has a 50-day simple moving average of $79.24 and a 200 day simple moving average of $64.08. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. Sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were given a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s payout ratio is 17.95%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents 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 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NEM. Royal Bank Of Canada raised shares of Newmont from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $66.00 to $95.00 in a report on Wednesday, September 10th. The Goldman Sachs Group set a $104.30 price target on shares of Newmont and gave the company a “buy” rating in a report on Sunday, October 12th. Raymond James Financial set a $96.00 price target on shares of Newmont in a report on Friday, October 10th. Citigroup boosted their price target on shares of Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Bank of America boosted their price target on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday. Four research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.59.

About Newmont

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.