Hager Investment Management Services LLC Has $661,000 Stake in Newmont Corporation $NEM

Hager Investment Management Services LLC boosted its stake in shares of Newmont Corporation (NYSE:NEM) by 133.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,841 shares of the basic materials company’s stock after purchasing an additional 4,485 shares during the quarter. Hager Investment Management Services LLC’s holdings in Newmont were worth $661,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Empirical Asset Management LLC bought a new stake in shares of Newmont during the 3rd quarter worth about $840,000. Colonial Trust Advisors lifted its position in Newmont by 20.8% during the third quarter. Colonial Trust Advisors now owns 684 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 118 shares during the last quarter. Waddell & Associates LLC boosted its holdings in shares of Newmont by 22.7% during the third quarter. Waddell & Associates LLC now owns 13,381 shares of the basic materials company’s stock worth $1,128,000 after acquiring an additional 2,474 shares during the period. Zhang Financial LLC acquired a new position in shares of Newmont in the third quarter valued at approximately $373,000. Finally, TD Asset Management Inc increased its stake in shares of Newmont by 5.5% during the third quarter. TD Asset Management Inc now owns 1,341,284 shares of the basic materials company’s stock worth $113,084,000 after purchasing an additional 69,882 shares during the period. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.05% of the company’s stock.

Newmont Price Performance

Shares of NEM opened at $124.76 on Thursday. Newmont Corporation has a 1 year low of $41.23 and a 1 year high of $134.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The company has a market capitalization of $135.72 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.06 and a beta of 0.40. The business has a 50-day moving average of $114.64 and a 200-day moving average of $94.32.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, beating the consensus estimate of $1.81 by $0.71. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The firm’s revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 earnings per share. As a group, equities research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd will be given a $0.26 dividend. This is a boost from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. Newmont’s dividend payout ratio is 15.65%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Jefferies Financial Group lifted their price target on Newmont from $136.00 to $158.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. BNP Paribas Exane upped their price objective on Newmont from $97.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.88.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.