Vanguard Personalized Indexing Management LLC Has $6.56 Million Stock Position in Newmont Corporation $NEM

Vanguard Personalized Indexing Management LLC lifted its stake in Newmont Corporation (NYSE:NEM) by 34.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 112,452 shares of the basic materials company’s stock after acquiring an additional 28,543 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Newmont were worth $6,560,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Concurrent Investment Advisors LLC increased its position in shares of Newmont by 26.3% in the second quarter. Concurrent Investment Advisors LLC now owns 12,393 shares of the basic materials company’s stock valued at $722,000 after acquiring an additional 2,581 shares during the last quarter. waypoint wealth counsel acquired a new position in Newmont during the second quarter worth approximately $245,000. Apollon Wealth Management LLC increased its position in Newmont by 101.5% during the second quarter. Apollon Wealth Management LLC now owns 22,112 shares of the basic materials company’s stock worth $1,288,000 after buying an additional 11,139 shares during the last quarter. Hemington Wealth Management increased its position in Newmont by 17.6% during the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after buying an additional 170 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in Newmont by 4.2% during the second quarter. Fifth Third Wealth Advisors LLC now owns 12,540 shares of the basic materials company’s stock worth $731,000 after buying an additional 511 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 5.0%

Shares of NYSE:NEM opened at $89.36 on Tuesday. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $89.42. The stock has a market cap of $98.16 billion, a PE ratio of 16.04, a P/E/G ratio of 0.94 and a beta of 0.34. The business has a 50 day moving average of $77.25 and a 200-day moving average of $62.93. 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 (NYSE:NEM) last issued its quarterly earnings data 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 return on equity of 17.86% and a net margin of 30.50%.The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business’s revenue was up 20.8% on a year-over-year basis. As a group, equities research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, September 4th. Newmont’s payout ratio is 17.95%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group set a $104.30 price target on Newmont and gave the stock a “buy” rating in a research report on Sunday. Scotiabank boosted their price target on Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Monday, July 28th. National Bankshares reissued an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Macquarie downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, TD Securities boosted their price target on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.18.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Brian Tabolt sold 7,015 shares of the business’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 value of $477,160.30. Following the completion of the sale, the chief accounting officer 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,249 shares of company stock worth $1,132,065. Company insiders own 0.05% of the company’s stock.

About Newmont

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.