Newmont Corporation $NEM Stock Position Raised by Colrain Capital LLC

by · The Markets Daily

Colrain Capital LLC raised its holdings in Newmont Corporation (NYSE:NEM – Free Report) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,350 shares of the basic materials company’s stock after purchasing an additional 13,600 shares during the quarter. Newmont accounts for about 9.0% of Colrain Capital LLC’s holdings, making the stock its 3rd biggest position. Colrain Capital LLC’s holdings in Newmont were worth $11,614,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Lifeworks Advisors LLC acquired a new stake in shares of Newmont during the 2nd quarter valued at approximately $476,000. Integrity Alliance LLC. acquired a new stake in shares of Newmont during the 2nd quarter valued at approximately $770,000. AMG National Trust Bank lifted its position in shares of Newmont by 20.0% during the 2nd quarter. AMG National Trust Bank now owns 117,276 shares of the basic materials company’s stock valued at $6,833,000 after acquiring an additional 19,531 shares during the period. Earned Wealth Advisors LLC acquired a new stake in shares of Newmont during the 2nd quarter valued at approximately $215,000. Finally, Wolverine Asset Management LLC lifted its position in shares of Newmont by 15.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 23,000 shares of the basic materials company’s stock valued at $1,340,000 after acquiring an additional 3,000 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Down 1.8%

Shares of Newmont stock opened at $80.85 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58. The company has a market capitalization of $88.23 billion, a P/E ratio of 12.55, a P/E/G ratio of 0.53 and a beta of 0.34. The business has a 50 day moving average price of $82.25 and a 200 day moving average price of $66.63.

Newmont (NYSE:NEM – Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. Sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.2%. Newmont’s payout ratio is 15.53%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NEM shares. Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Macquarie downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. National Bankshares reiterated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Finally, CIBC set a $112.00 price objective on Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Newmont presently has an average rating of “Buy” and a consensus price target of $86.92.

Get Our Latest Stock Report on NEM

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the transaction, the director directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,172 shares of company stock valued at $808,863 over the last quarter. 0.05% of the stock is currently owned by insiders.

Newmont Company Profile

(Free Report)

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, Papua New Guinea, Ecuador, Fiji, and Ghana.

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