Sage Mountain Advisors LLC Purchases 2,474 Shares of Newmont Corporation $NEM

Sage Mountain Advisors LLC lifted its position in shares of Newmont Corporation (NYSE:NEM) by 27.9% during the second quarter, Holdings Channel reports. The institutional investor owned 11,353 shares of the basic materials company’s stock after purchasing an additional 2,474 shares during the period. Sage Mountain Advisors LLC’s holdings in Newmont were worth $661,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NEM. Cloud Capital Management LLC bought a new position in shares of Newmont in the first quarter worth about $26,000. Colonial Trust Advisors raised its position 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 valued at $27,000 after buying an additional 429 shares during the last quarter. Concord Wealth Partners lifted its holdings in shares of Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares in the last quarter. Evermay Wealth Management LLC boosted its position in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 347 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

Shares of Newmont stock opened at $83.25 on Friday. The stock has a 50 day moving average price of $81.17 and a 200-day moving average price of $65.56. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The stock has a market cap of $91.45 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 0.57 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.69% and a net margin of 33.42%.The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the company earned $0.81 earnings per share. Newmont’s revenue was up 20.0% on a year-over-year basis. Equities analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio is presently 15.53%.

Insider Buying and Selling

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction dated 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 $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the business’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 value of $176,779.20. Following the transaction, the director owned 36,869 shares of the company’s stock, valued at $3,133,496.31. This trade represents a 5.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock valued at $1,132,065 in the last ninety days. 0.05% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on NEM shares. UBS Group boosted their price target on shares of Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. CIBC set a $112.00 price target on Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. BNP Paribas Exane increased their target price on Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Finally, Weiss Ratings raised shares of Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday. Five research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $90.59.

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.