Krilogy Financial LLC Decreases Stake in Newmont Co. (NYSE:NEM)

Krilogy Financial LLC reduced its stake in Newmont Co. (NYSE:NEMGet Rating) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,777 shares of the basic materials company’s stock after selling 785 shares during the period. Krilogy Financial LLC’s holdings in Newmont were worth $1,419,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. J2 Capital Management Inc grew its position in shares of Newmont by 2.4% in the 1st quarter. J2 Capital Management Inc now owns 5,656 shares of the basic materials company’s stock worth $449,000 after buying an additional 130 shares during the last quarter. Private Capital Group LLC grew its position in shares of Newmont by 8.7% in the 1st quarter. Private Capital Group LLC now owns 1,692 shares of the basic materials company’s stock worth $135,000 after buying an additional 135 shares during the last quarter. Glassman Wealth Services grew its position in shares of Newmont by 21.8% in the 1st quarter. Glassman Wealth Services now owns 821 shares of the basic materials company’s stock worth $65,000 after buying an additional 147 shares during the last quarter. Seelaus Asset Management LLC boosted its position in shares of Newmont by 2.7% during the first quarter. Seelaus Asset Management LLC now owns 5,790 shares of the basic materials company’s stock valued at $460,000 after purchasing an additional 150 shares in the last quarter. Finally, Lee Johnson Capital Management LLC boosted its position in shares of Newmont by 0.6% during the first quarter. Lee Johnson Capital Management LLC now owns 27,243 shares of the basic materials company’s stock valued at $2,164,000 after purchasing an additional 160 shares in the last quarter. 81.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $59.43, for a total transaction of $653,730.00. Following the completion of the sale, the chief executive officer now owns 265,949 shares in the company, valued at $15,805,349.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Newmont news, CFO Nancy Buese sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $61.50, for a total transaction of $615,000.00. Following the completion of the sale, the chief financial officer now owns 39,530 shares of the company’s stock, valued at $2,431,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $59.43, for a total value of $653,730.00. Following the sale, the chief executive officer now directly owns 265,949 shares of the company’s stock, valued at approximately $15,805,349.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,000 shares of company stock worth $2,081,920. 0.11% of the stock is owned by insiders.

Newmont Stock Up 0.2 %

Shares of NEM stock traded up $0.10 during mid-day trading on Thursday, hitting $42.50. The company’s stock had a trading volume of 366,073 shares, compared to its average volume of 9,621,971. Newmont Co. has a 52-week low of $40.27 and a 52-week high of $86.37. The business has a 50-day moving average price of $45.33 and a 200 day moving average price of $62.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.44 and a current ratio of 2.82. The stock has a market cap of $33.73 billion, a price-to-earnings ratio of 42.67 and a beta of 0.29.

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 analysts’ consensus estimates of $0.60 by ($0.14). The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. Research analysts predict that Newmont Co. will post 2.61 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 8th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Wednesday, September 7th. Newmont’s dividend payout ratio (DPR) is presently 222.22%.

Wall Street Analyst Weigh In

NEM has been the topic of several research reports. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, September 12th. They set a “buy” rating and a $53.00 price target on the stock. Fundamental Research dropped their price target on Newmont from $79.52 to $63.91 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. TD Securities dropped their price target on Newmont from $64.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, July 26th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, September 6th. Finally, Barclays dropped their price target 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. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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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