4,207 Shares in Newmont Corporation $NEM Acquired by waypoint wealth counsel

waypoint wealth counsel bought a new position in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,207 shares of the basic materials company’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. Apollon Wealth Management LLC increased its holdings in shares of Newmont by 101.5% in the second quarter. Apollon Wealth Management LLC now owns 22,112 shares of the basic materials company’s stock valued at $1,288,000 after buying an additional 11,139 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after buying an additional 170 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Newmont by 4.2% in the second quarter. Fifth Third Wealth Advisors LLC now owns 12,540 shares of the basic materials company’s stock valued at $731,000 after buying an additional 511 shares in the last quarter. Inspire Investing LLC increased its holdings in shares of Newmont by 62.6% in the second quarter. Inspire Investing LLC now owns 178,355 shares of the basic materials company’s stock valued at $10,391,000 after buying an additional 68,639 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC bought a new position in shares of Newmont in the second quarter valued at $253,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NEM. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday. Royal Bank Of Canada raised Newmont from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $66.00 to $95.00 in a report on Wednesday, September 10th. Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Scotiabank upped their price target on Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a report on Monday, July 28th. Finally, Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Four research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.18.

Newmont Stock Performance

Shares of Newmont stock opened at $85.07 on Monday. The stock has a market cap of $93.45 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 0.94 and a beta of 0.34. The business has a fifty day simple moving average of $76.77 and a 200-day simple moving average of $62.65. The company has a quick ratio of 1.91, a current ratio of 2.23 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.

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

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were given 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 yield of 1.2%. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of Newmont 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 sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,249 shares of company stock valued at $1,132,065. Insiders own 0.05% of the company’s stock.

Newmont 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.