Newmont Corporation $NEM is Glass Wealth Management Co LLC’s 9th Largest Position

Glass Wealth Management Co LLC raised its holdings in shares of Newmont Corporation (NYSE:NEM) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,907 shares of the basic materials company’s stock after buying an additional 2,390 shares during the period. Newmont comprises approximately 2.8% of Glass Wealth Management Co LLC’s portfolio, making the stock its 9th largest position. Glass Wealth Management Co LLC’s holdings in Newmont were worth $5,180,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SOA Wealth Advisors LLC. boosted its position in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after buying an additional 201 shares during the period. Cloud Capital Management LLC purchased a new stake in shares of Newmont during the first quarter worth about $26,000. Colonial Trust Advisors boosted its holdings in shares of Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares during the period. Private Trust Co. NA boosted its holdings in shares of Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 347 shares during the period. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Newmont during the first quarter worth about $32,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,249 shares of company stock valued at $1,132,065. Corporate insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NEM shares. Stifel Nicolaus started coverage on shares of Newmont in a report on Wednesday, July 9th. They set a “buy” rating and a $73.00 target price for the company. BNP Paribas Exane increased their target price on shares of Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Macquarie lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Finally, National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $74.18.

Newmont Price Performance

NEM stock opened at $86.86 on Monday. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $87.93. The company has a market cap of $95.41 billion, a P/E ratio of 15.59, a PEG ratio of 0.97 and a beta of 0.34. The firm has a 50-day moving average of $74.37 and a 200 day moving average of $61.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. Newmont’s revenue was up 20.8% on a year-over-year basis. On average, sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

Newmont Company Profile

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.