Boenning & Scattergood Inc. Grows Stock Position in Newmont Co. (NYSE:NEM)

Boenning & Scattergood Inc. increased its holdings in shares of Newmont Co. (NYSE:NEMGet Rating) by 6.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,794 shares of the basic materials company’s stock after buying an additional 902 shares during the quarter. Boenning & Scattergood Inc.’s holdings in Newmont were worth $942,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. GQG Partners LLC raised its holdings in shares of Newmont by 182.0% in the 1st quarter. GQG Partners LLC now owns 32,070,891 shares of the basic materials company’s stock worth $2,547,688,000 after purchasing an additional 20,699,677 shares during the period. Norges Bank purchased a new position in shares of Newmont in the 4th quarter worth about $489,639,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Newmont by 103.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,489,270 shares of the basic materials company’s stock worth $356,749,000 after purchasing an additional 2,281,418 shares during the period. Capital World Investors raised its holdings in shares of Newmont by 70.6% in the 1st quarter. Capital World Investors now owns 4,305,094 shares of the basic materials company’s stock worth $342,040,000 after purchasing an additional 1,781,294 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Newmont by 19.4% in the 1st quarter. Bank of New York Mellon Corp now owns 7,639,050 shares of the basic materials company’s stock worth $606,921,000 after purchasing an additional 1,239,223 shares during the period. 81.11% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Down 0.9 %

Shares of Newmont stock opened at $42.40 on Thursday. The business’s fifty day moving average price is $45.33 and its two-hundred day moving average price is $62.06. 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 company has a market capitalization of $33.65 billion, a P/E ratio of 42.83 and a beta of 0.29. Newmont Co. has a 1-year low of $40.27 and a 1-year high of $86.37.

Newmont (NYSE:NEMGet Rating) last announced its earnings results on Monday, July 25th. The basic materials company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.14). The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. Newmont had a net margin of 6.40% and a return on equity of 9.13%. The firm’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. As a group, research analysts forecast that Newmont Co. will post 2.61 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Wednesday, September 7th. Newmont’s dividend payout ratio (DPR) is currently 222.22%.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $45.35, for a total transaction of $498,850.00. Following the completion of the transaction, the chief executive officer now owns 254,949 shares in the company, valued at approximately $11,561,937.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $45.35, for a total transaction of $498,850.00. Following the completion of the transaction, the chief executive officer now owns 254,949 shares in the company, valued at approximately $11,561,937.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Robert D. Atkinson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $45.35, for a total value of $136,050.00. Following the transaction, the chief operating officer now owns 48,947 shares of the company’s stock, valued at approximately $2,219,746.45. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock valued at $2,081,920 in the last 90 days. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NEM. National Bank Financial upgraded Newmont from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 27th. Canaccord Genuity Group upgraded Newmont from a “hold” rating to a “buy” rating and lowered their target price for the company from $66.00 to $60.00 in a research note on Wednesday, July 27th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, September 6th. TD Securities lowered their price objective on Newmont from $64.00 to $52.00 and set a “hold” rating for the company in a research note on Tuesday, July 26th. Finally, Raymond James lowered their price objective on Newmont from $71.00 to $69.00 and set an “outperform” rating for the company in a research note on Friday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $66.94.

Newmont Profile

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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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