TriaGen Wealth Management LLC Raises Stake in Newmont Corporation $NEM

TriaGen Wealth Management LLC increased its stake in Newmont Corporation (NYSE:NEM) by 20.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,243 shares of the basic materials company’s stock after buying an additional 1,886 shares during the period. TriaGen Wealth Management LLC’s holdings in Newmont were worth $655,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of Newmont by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock valued at $773,159,000 after purchasing an additional 1,306,783 shares during the period. Northern Trust Corp raised its position in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after purchasing an additional 191,940 shares in the last quarter. Amundi raised its position in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after purchasing an additional 343,535 shares in the last quarter. Invesco Ltd. grew its position in shares of Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock worth $518,936,000 after buying an additional 228,116 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Newmont by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after buying an additional 1,201,237 shares during the period. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Stifel Canada raised shares of Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. UBS Group upped their price objective on Newmont from $70.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Finally, BNP Paribas lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

Insider Buying and Selling

In other Newmont news, 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 completion of the transaction, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont 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 sale, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by company insiders.

Newmont Trading Up 2.0%

NYSE:NEM opened at $88.60 on Tuesday. The company has a market capitalization of $97.32 billion, a P/E ratio of 15.91, a PEG ratio of 0.97 and a beta of 0.34. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $89.37. The firm has a fifty day simple moving average of $74.87 and a 200-day simple moving average of $61.56.

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

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were given a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont’s dividend payout ratio 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.