10,313 Shares in Newmont Co. (NYSE:NEM) Acquired by Lake Street Financial LLC

Lake Street Financial LLC acquired a new position in Newmont Co. (NYSE:NEMGet Rating) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,313 shares of the basic materials company’s stock, valued at approximately $819,000.

A number of other institutional investors also recently modified their holdings of the stock. Vectors Research Management LLC bought a new position in Newmont in the 4th quarter worth $25,000. Rational Advisors LLC increased its holdings in shares of Newmont by 133.7% during the 4th quarter. Rational Advisors LLC now owns 416 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 238 shares during the period. Lloyd Advisory Services LLC. acquired a new stake in shares of Newmont during the 1st quarter valued at about $28,000. Central Bank & Trust Co. acquired a new stake in shares of Newmont during the 1st quarter valued at about $29,000. Finally, Riverview Trust Co acquired a new stake in shares of Newmont during the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 78.41% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, EVP Stephen P. Gottesfeld sold 4,000 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $66.63, for a total transaction of $266,520.00. Following the transaction, the executive vice president now owns 87,753 shares in the company, valued at $5,846,982.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Newmont news, EVP Stephen P. Gottesfeld sold 4,000 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $66.63, for a total transaction of $266,520.00. Following the transaction, the executive vice president now owns 87,753 shares in the company, valued at $5,846,982.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $67.64, for a total transaction of $744,040.00. Following the transaction, the chief executive officer now owns 276,949 shares in the company, valued at approximately $18,732,830.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,000 shares of company stock worth $3,295,400. Insiders own 0.11% of the company’s stock.

Newmont Trading Down 1.1 %

NEM opened at $44.77 on Friday. Newmont Co. has a fifty-two week low of $43.90 and a fifty-two week 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 firm has a market capitalization of $35.53 billion, a price-to-earnings ratio of 45.22 and a beta of 0.26. The company’s 50 day moving average price is $58.51 and its two-hundred day moving average price is $66.91.

Newmont (NYSE:NEMGet Rating) last issued its quarterly earnings results 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 return on equity of 9.13% and a net margin of 6.40%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. As a group, research analysts predict that Newmont Co. will post 2.61 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.20 annualized dividend and a yield of 4.91%. Newmont’s payout ratio is 222.22%.

Analyst Ratings Changes

A number of research firms have commented on NEM. Barclays reduced their price target on shares of Newmont from $68.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. Sanford C. Bernstein lowered shares of Newmont from an “outperform” rating to a “market perform” rating and set a $57.00 price target on the stock. in a research report on Monday, April 25th. Canaccord Genuity Group upgraded shares of Newmont from a “hold” rating to a “buy” rating and reduced their price target for the company from $66.00 to $60.00 in a research report on Wednesday, July 27th. Raymond James dropped their target price on shares of Newmont from $76.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, July 26th. Finally, Credit Suisse Group downgraded shares of Newmont from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 19th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Hold” and an average price target of $70.37.

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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