Quadrant Capital Group LLC Raises Stock Holdings in Newmont Co. (NYSE:NEM)

Quadrant Capital Group LLC grew its stake in Newmont Co. (NYSE:NEMGet Rating) by 13.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,540 shares of the basic materials company’s stock after buying an additional 536 shares during the quarter. Quadrant Capital Group LLC’s holdings in Newmont were worth $361,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEM. Cerity Partners LLC boosted its stake in shares of Newmont by 229.4% in the first quarter. Cerity Partners LLC now owns 16,087 shares of the basic materials company’s stock worth $1,028,000 after acquiring an additional 11,204 shares during the period. Vident Investment Advisory LLC boosted its stake in shares of Newmont by 11.9% in the fourth quarter. Vident Investment Advisory LLC now owns 66,689 shares of the basic materials company’s stock worth $4,136,000 after acquiring an additional 7,073 shares during the period. Comerica Bank boosted its stake in shares of Newmont by 1.7% in the first quarter. Comerica Bank now owns 132,896 shares of the basic materials company’s stock worth $10,976,000 after acquiring an additional 2,208 shares during the period. AlphaCrest Capital Management LLC boosted its stake in shares of Newmont by 353.3% in the fourth quarter. AlphaCrest Capital Management LLC now owns 18,204 shares of the basic materials company’s stock worth $1,129,000 after acquiring an additional 14,188 shares during the period. Finally, Empirical Finance LLC boosted its stake in shares of Newmont by 12.7% in the first quarter. Empirical Finance LLC now owns 14,996 shares of the basic materials company’s stock worth $1,191,000 after acquiring an additional 1,689 shares during the period. Hedge funds and other institutional investors own 78.41% of the company’s stock.

Newmont Trading Up 2.0 %

Shares of NEM stock opened at $45.28 on Friday. Newmont Co. has a 1 year low of $43.90 and a 1 year high of $86.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.82 and a quick ratio of 2.44. The stock’s 50 day simple moving average is $58.99 and its two-hundred day simple moving average is $67.02. The company has a market cap of $35.94 billion, a PE ratio of 45.74 and a beta of 0.26.

Newmont (NYSE:NEMGet Rating) last issued its quarterly earnings data on Monday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.24). Newmont had a net margin of 6.40% and a return on equity of 9.13%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the company earned $0.83 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Research analysts predict that Newmont Co. will post 2.61 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 8th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.20 annualized dividend and a dividend yield of 4.86%. Newmont’s payout ratio is 222.22%.

Analyst Ratings Changes

NEM has been the subject of a number of recent analyst reports. National Bank Financial raised Newmont from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 27th. Barclays dropped their price target on Newmont from $68.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 19th. National Bankshares dropped their price target on Newmont from $119.00 to $115.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 26th. Sanford C. Bernstein lowered Newmont from an “outperform” rating to a “market perform” rating and set a $57.00 price target for the company. in a research note on Monday, April 25th. Finally, Credit Suisse Group lowered Newmont from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 19th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Newmont presently has a consensus rating of “Hold” and an average target price of $70.37.

Insider Transactions at Newmont

In other news, CFO Nancy Buese sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $61.50, for a total value of $615,000.00. Following the sale, the chief financial officer now directly owns 39,530 shares in the company, valued at $2,431,095. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Nancy Buese sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $61.50, for a total value of $615,000.00. Following the sale, the chief financial officer now directly owns 39,530 shares in the company, valued at $2,431,095. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Robert D. Atkinson sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $67.64, for a total value of $202,920.00. Following the transaction, the chief operating officer now owns 67,617 shares in the company, valued at $4,573,613.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,000 shares of company stock worth $3,295,400. 0.11% of the stock is currently owned by company insiders.

About Newmont

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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