Simplicity Wealth LLC Buys Shares of 18,722 Newmont Corporation $NEM

Simplicity Wealth LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the second quarter, HoldingsChannel.com reports. The fund purchased 18,722 shares of the basic materials company’s stock, valued at approximately $1,091,000.

A number of other hedge funds have also added to or reduced their stakes in the company. SOA Wealth Advisors LLC. increased its stake in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 201 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in Newmont in the first quarter valued at about $26,000. Colonial Trust Advisors grew its position in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 429 shares during the last quarter. Financial Management Professionals Inc. raised its stake in Newmont by 274.1% during the second quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 444 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of Newmont by 92.3% in the second quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 300 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NEM shares. UBS Group lifted their price target on shares of Newmont from $70.00 to $92.00 and gave the company a “buy” rating in a report on Friday, September 19th. BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Macquarie downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Newmont in a research note on Saturday, September 27th. Finally, BNP Paribas Exane boosted their price objective on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $74.18.

Newmont Stock Performance

Shares of Newmont stock opened at $88.60 on Tuesday. The stock has a market cap of $97.32 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 0.97 and a beta of 0.34. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $89.37. The company’s fifty day moving average is $74.87 and its 200 day moving average is $61.56. 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 announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the business earned $0.72 EPS. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. Sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares of the company’s stock, 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. In the last 90 days, insiders sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is currently owned by insiders.

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.