Great Valley Advisor Group Inc. increased its holdings of Newmont Co. (NYSE: NEM – Get Rating) stock by 43.8% during the first quarter, according to the company in its latest filing with the Securities & Exchange Commission. The institutional investor held 6,104 shares of the basic materials company after purchasing an additional 1,859 shares during the period. Great Valley Advisor Group Inc.’s holdings in Newmont were worth $485,000 at the end of the last quarter.
Several other institutional investors and hedge funds also changed their positions in the company. Vident Investment Advisory LLC increased its position in Newmont by 11.9% during the fourth quarter. Vident Investment Advisory LLC now owns 66,689 shares of the basic materials company worth $4,136,000 after purchasing an additional 7,073 shares last quarter. AlphaCrest Capital Management LLC increased its position in Newmont shares by 353.3% during the fourth quarter. AlphaCrest Capital Management LLC now owns 18,204 shares of the basic materials company valued at $1,129,000 after acquiring an additional 14,188 shares during the period. Bank Julius Baer & Cie SA Zurich increased its position in Newmont shares by 0.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 578,501 shares of the basic materials company valued at $35,879,000 after acquiring 2,225 additional shares during the period. Northcape Wealth Management LLC acquired a new equity stake in Newmont during Q4 valued at $229,000. Finally, Bridge Advisory LLC bought a new position in Newmont stock in the first quarter worth $214,000. 78.41% of the shares are currently held by institutional investors.
Several equity analysts have commented on NEM shares. National Bankshares cut its target price on Newmont shares from $119.00 to $115.00 and set an “industry performance” rating on the stock in a Tuesday, April 26 report. TD Securities reduced its target price on Newmont from $82.00 to $79.00 and set a “holding” rating for the company in a Monday, April 25 research note. Jefferies Financial Group raised its price target on Newmont from $67.00 to $72.00 and gave the company a “holding” rating in a Wednesday, March 9 research note. Sanford C. Bernstein downgraded Newmont’s stock from an “outperforming” rating to a “market performing” rating and set a price target of $57.00 for the stock. in a Monday April 25 research note. Finally, Canaccord Genuity Group cut its target price on Newmont shares from $87.00 to $80.00 and set a “hold” rating on the stock in a Tuesday, April 26 research report. Fifteen research analysts gave the stock a hold rating and three issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.43.
Newmont stock opened at $61.17 on Friday. The company has a market capitalization of $48.55 billion, a P/E ratio of 46.70 and a beta of 0.37. The stock’s 50-day moving average is $67.16 and its 200-day moving average is $68.38. The company has a debt ratio of 0.28, a current ratio of 2.92 and a quick ratio of 2.53. Newmont Co. has a one-year low of $52.60 and a one-year high of $86.37.
Newmont (NYSE:NEM – Get Rating) last released its quarterly results on Friday, April 22. The basic materials company reported earnings per share (EPS) of $0.69 for the quarter, missing analyst consensus estimates of $0.71 per ($0.02). Newmont had a return on equity of 10.24% and a net margin of 8.53%. The company posted revenue of $3.02 billion in the quarter, versus analyst estimates of $3.06 billion. In the same quarter last year, the company posted EPS of $0.74. The company’s revenue for the quarter increased 5.3% year over year. Stock analysts expect Newmont Co. to post earnings per share of 3.43 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 16. Shareholders of record on Thursday, June 2 received a dividend of $0.55 per share. The ex-dividend date was Wednesday, June 1. This represents a dividend of $2.20 on an annualized basis and a yield of 3.60%. Newmont’s dividend payout ratio (DPR) is currently 167.94%.
In related news, Chief Financial Officer Nancy Buese sold 10,000 shares of the company in a trade that took place on Thursday, June 30. The stock was sold at an average price of $61.50, for a total transaction of $615,000.00. Following the completion of the sale, the CFO now owns 39,530 shares of the company, valued at $2,431,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Executive Vice President Stephen P. Gottesfeld sold 4,000 shares of the company in a transaction that took place on Thursday, May 12. The shares were sold at an average price of $66.63, for a total value of $266,520.00. Following completion of the transaction, the executive vice president now directly owns 87,753 shares of the company, valued at $5,846,982.39. The disclosure of this sale can be found here. During the last quarter, insiders sold 42,000 shares of the company valued at $2,825,280. Insiders of the company hold 0.11% of the shares of the company.
Profile Newmont (Get a rating)
Newmont Corporation is engaged in the production and exploration of gold. He also explores 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 a land position of 62,800 square kilometers.
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