ACG Wealth Invests $144,000 in Newmont Co. (NYSE:NEM)

ACG Wealth purchased a new position in Newmont Co. (NYSE:NEMGet Rating) during the second quarter, HoldingsChannel.com reports. The fund purchased 2,407 shares of the basic materials company’s stock, valued at approximately $144,000.

Other hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC boosted its position in shares of Newmont by 229.4% in the 1st quarter. Cerity Partners LLC now owns 16,087 shares of the basic materials company’s stock worth $1,028,000 after purchasing an additional 11,204 shares in the last quarter. Intersect Capital LLC bought a new stake in shares of Newmont in the 1st quarter worth approximately $229,000. M Holdings Securities Inc. bought a new stake in shares of Newmont in the 1st quarter worth approximately $681,000. Quadrant Capital Group LLC boosted its position in shares of Newmont by 13.4% in the 1st quarter. Quadrant Capital Group LLC now owns 4,540 shares of the basic materials company’s stock worth $361,000 after purchasing an additional 536 shares in the last quarter. Finally, Allstate Corp lifted its position in Newmont by 1.4% in the 1st quarter. Allstate Corp now owns 51,236 shares of the basic materials company’s stock valued at $4,071,000 after acquiring an additional 722 shares in the last quarter. 81.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Newmont news, CFO Nancy Buese sold 10,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 39,530 shares in the company, valued at approximately $2,431,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Newmont news, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $45.35, for a total transaction of $136,050.00. Following the completion of the transaction, the chief operating officer now owns 48,947 shares of the company’s stock, valued at approximately $2,219,746.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nancy Buese sold 10,000 shares of the stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $61.50, for a total transaction of $615,000.00. Following the transaction, the chief financial officer now directly owns 39,530 shares of the company’s stock, valued at approximately $2,431,095. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,000 shares of company stock worth $2,081,920. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, September 12th. They issued a “buy” rating and a $53.00 price objective on the stock. Canaccord Genuity Group raised Newmont from a “hold” rating to a “buy” rating and lowered their price objective for the company from $66.00 to $60.00 in a research report on Wednesday, July 27th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, September 6th. Barclays lowered their price objective on Newmont from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Friday, September 16th. Finally, National Bank Financial raised Newmont from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 27th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $66.94.

Newmont Trading Up 0.2 %

NYSE:NEM opened at $42.50 on Friday. 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 firm has a market capitalization of $33.73 billion, a price-to-earnings ratio of 42.93 and a beta of 0.29. Newmont Co. has a one year low of $40.27 and a one year high of $86.37. The business has a fifty day moving average price of $45.08 and a 200-day moving average price of $61.82.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th were paid a $0.55 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $2.20 dividend on an annualized basis and a yield of 5.18%. Newmont’s payout ratio is presently 222.22%.

Newmont Profile

(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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