Independent Advisor Alliance Has $639,000 Holdings in Newmont Co. (NYSE:NEM)

Independent Advisor Alliance grew its stake in Newmont Co. (NYSE:NEMGet Rating) by 30.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,048 shares of the basic materials company’s stock after buying an additional 1,899 shares during the period. Independent Advisor Alliance’s holdings in Newmont were worth $639,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp lifted its position in shares of Newmont by 1.6% in the fourth quarter. State Street Corp now owns 40,349,321 shares of the basic materials company’s stock worth $2,502,465,000 after buying an additional 616,798 shares during the last quarter. Flossbach Von Storch AG increased its stake in shares of Newmont by 0.9% in the fourth quarter. Flossbach Von Storch AG now owns 17,186,588 shares of the basic materials company’s stock worth $1,065,912,000 after purchasing an additional 147,793 shares during the period. Geode Capital Management LLC increased its stake in shares of Newmont by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 12,994,833 shares of the basic materials company’s stock worth $803,531,000 after purchasing an additional 330,167 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Newmont by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,105,445 shares of the basic materials company’s stock worth $750,781,000 after purchasing an additional 450,404 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Newmont by 1.6% in the fourth quarter. Northern Trust Corp now owns 11,603,788 shares of the basic materials company’s stock worth $719,666,000 after purchasing an additional 187,315 shares during the period. Institutional investors and hedge funds own 78.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Sanford C. Bernstein lowered Newmont from an “outperform” rating to a “market perform” rating and set a $57.00 price objective on the stock. in a research note on Monday, April 25th. National Bank Financial upgraded Newmont from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 27th. Fundamental Research restated a “buy” rating and set a $79.52 price target on shares of Newmont in a research note on Tuesday, May 10th. Raymond James lowered their price target on Newmont from $76.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 26th. Finally, Canaccord Genuity Group upgraded 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 note on Wednesday, July 27th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $70.37.

Newmont Trading Down 1.1 %

Shares of NYSE:NEM opened at $44.77 on Friday. Newmont Co. has a 52-week low of $43.90 and a 52-week high of $86.37. The company has a market capitalization of $35.53 billion, a P/E ratio of 45.22 and a beta of 0.26. The company has a 50-day simple moving average of $58.51 and a 200 day simple moving average of $66.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.44 and a current ratio of 2.82.

Newmont (NYSE:NEMGet Rating) last issued its earnings results on Monday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.24). The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Newmont had a net margin of 6.40% and a return on equity of 9.13%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the business posted $0.83 earnings per share. Sell-side analysts forecast that Newmont Co. will post 2.61 earnings per share for the current year.

Newmont Dividend Announcement

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

Insider Transactions at Newmont

In related news, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $45.35, for a total value of $136,050.00. Following the transaction, the chief operating officer now directly owns 48,947 shares of the company’s stock, valued at $2,219,746.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $45.35, for a total value of $136,050.00. Following the transaction, the chief operating officer now directly owns 48,947 shares of the company’s stock, valued at $2,219,746.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen P. Gottesfeld sold 4,000 shares of Newmont stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 87,753 shares in the company, valued at $5,846,982.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,000 shares of company stock valued at $3,295,400. 0.11% of the stock is currently owned by company insiders.

About Newmont

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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.

Further Reading

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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