Checchi Capital Advisers LLC grew its position in Newmont Co. (NYSE:NEM – Get Rating) by 9.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,391 shares of the basic materials company’s stock after acquiring an additional 576 shares during the period. Checchi Capital Advisers LLC’s holdings in Newmont were worth $289,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the company. Wealth Alliance Advisory Group LLC raised its position in Newmont by 5.1% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,460 shares of the basic materials company’s stock worth $206,000 after purchasing an additional 169 shares during the last quarter. Capital Analysts LLC raised its position in Newmont by 0.4% during the 1st quarter. Capital Analysts LLC now owns 47,050 shares of the basic materials company’s stock worth $3,738,000 after purchasing an additional 185 shares during the last quarter. Mcrae Capital Management Inc. raised its position in Newmont by 3.7% during the 2nd quarter. Mcrae Capital Management Inc. now owns 5,600 shares of the basic materials company’s stock worth $334,000 after purchasing an additional 200 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Newmont by 15.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,565 shares of the basic materials company’s stock worth $93,000 after purchasing an additional 211 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Newmont by 0.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 41,958 shares of the basic materials company’s stock worth $2,504,000 after purchasing an additional 214 shares during the last quarter. 81.11% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
NEM has been the subject of several research analyst reports. StockNews.com initiated coverage on Newmont in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Barclays lowered their price objective on Newmont from $55.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday. The Goldman Sachs Group started coverage on Newmont in a research note on Monday, September 12th. They set a “buy” rating and a $53.00 price target for the company. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, September 6th. Finally, Canaccord Genuity Group raised shares of Newmont from a “hold” rating to a “buy” rating and lowered their price target for the stock from $66.00 to $60.00 in a report on Wednesday, July 27th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.33.
Insider Transactions at Newmont
Newmont Price Performance
Shares of NYSE NEM opened at $46.13 on Wednesday. Newmont Co. has a 52 week low of $37.45 and a 52 week high of $86.37. The stock has a market capitalization of $36.62 billion, a price-to-earnings ratio of 36.61 and a beta of 0.25. The firm has a 50-day simple moving average of $42.81 and a 200-day simple moving average of $51.09. The company has a quick ratio of 2.29, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.
Newmont (NYSE:NEM – Get Rating) last announced its earnings results on Tuesday, November 1st. The basic materials company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Newmont had a net margin of 8.28% and a return on equity of 8.07%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. On average, equities analysts predict that Newmont Co. will post 1.89 earnings per share for the current fiscal year.
Newmont Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 8th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Wednesday, December 7th. Newmont’s payout ratio is currently 174.60%.
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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