Duncker Streett & Co. Inc. Buys 17,882 Shares of Newmont Corporation $NEM

Duncker Streett & Co. Inc. raised its stake in Newmont Corporation (NYSE:NEM) by 412.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,214 shares of the basic materials company’s stock after buying an additional 17,882 shares during the period. Duncker Streett & Co. Inc.’s holdings in Newmont were worth $2,405,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. Jackson Thornton Wealth Management LLC lifted its position in shares of Newmont by 6.3% in the 1st quarter. Jackson Thornton Wealth Management LLC now owns 5,396 shares of the basic materials company’s stock worth $584,000 after purchasing an additional 318 shares during the period. Sagace Wealth Management LLC acquired a new stake in shares of Newmont during the first quarter worth $315,000. Resonant Capital Advisors LLC raised its stake in Newmont by 7.2% during the first quarter. Resonant Capital Advisors LLC now owns 4,751 shares of the basic materials company’s stock worth $514,000 after buying an additional 318 shares during the last quarter. Swedbank AB raised its stake in Newmont by 3.5% during the first quarter. Swedbank AB now owns 732,277 shares of the basic materials company’s stock worth $79,269,000 after buying an additional 24,728 shares during the last quarter. Finally, Integrated Advisors Network LLC lifted its holdings in Newmont by 28.4% in the first quarter. Integrated Advisors Network LLC now owns 4,834 shares of the basic materials company’s stock valued at $523,000 after buying an additional 1,069 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Royal Bank Of Canada decreased their price target on Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. TD Cowen restated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Canadian Imperial Bank of Commerce set a $175.00 target price on Newmont and gave the stock an “outperform” rating in a research note on Monday, June 1st. Macquarie Infrastructure dropped their price target on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. Finally, TD increased their price target on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.78.

Newmont Trading Down 3.3%

Shares of Newmont stock opened at $94.95 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88. The stock has a 50 day moving average price of $105.35 and a two-hundred day moving average price of $110.83. The stock has a market capitalization of $101.36 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.46.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. Newmont’s revenue for the quarter was up 45.8% on a year-over-year basis. As a group, equities analysts anticipate that Newmont Corporation will post 9.87 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is 13.49%.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Jefferies reiterated a Buy rating on Newmont and still sees upside even after trimming its price target to $146, which supports the stock’s long-term valuation case. Benzinga source
• Positive Sentiment: Recent coverage highlighted Newmont as a leader among gold stocks, with commentary pointing to higher gold prices as a potential driver of earnings and share performance. Article title
• Positive Sentiment: Analyst and market recaps note Newmont’s strong operating profile, including a recent earnings beat and continued investor interest in the gold miner. Article title

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total value of $277,140.00. Following the transaction, the executive vice president owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This trade represents a 6.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This trade represents a 16.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,556 shares of company stock valued at $3,058,146 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.