Strategic Investment Advisors MI Raises Stock Holdings in Newmont Corporation $NEM

Strategic Investment Advisors MI grew its position in shares of Newmont Corporation (NYSE:NEM) by 19.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 49,020 shares of the basic materials company’s stock after acquiring an additional 7,852 shares during the quarter. Strategic Investment Advisors MI’s holdings in Newmont were worth $5,308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Apella Capital LLC lifted its position in Newmont by 4.1% during the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after purchasing an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC increased its holdings in shares of Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after buying an additional 88 shares during the last quarter. Novem Group increased its holdings in shares of Newmont by 3.7% in the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after buying an additional 88 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Newmont by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after buying an additional 96 shares in the last quarter. Finally, Coston McIsaac & Partners lifted its holdings in shares of Newmont by 28.6% in the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 100 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the completion of the sale, the executive vice president owned 43,315 shares in the company, valued at $4,001,439.70. This trade represents a 6.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 28,556 shares of company stock valued at $3,058,146 in the last three months. 0.06% of the stock is owned by company insiders.

Newmont Stock Down 0.2%

Shares of NYSE:NEM opened at $91.34 on Thursday. The firm has a market capitalization of $96.24 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.02 and a beta of 0.46. The business has a 50 day simple moving average of $99.02 and a two-hundred day simple moving average of $109.65. Newmont Corporation has a 1 year low of $61.76 and a 1 year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The firm had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same period last year, the company earned $1.43 EPS. On average, equities analysts predict that Newmont Corporation will post 8.99 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is 13.13%.

Analyst Ratings Changes

Several brokerages have weighed in on NEM. Raymond James Financial reduced their price objective on Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Citigroup dropped their target price on Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a report on Monday, July 20th. Barclays decreased their price target on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday. The Goldman Sachs Group lowered their price target on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Finally, UBS Group cut their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.83.

Newmont Company 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.