Atlantic Union Bankshares Corp Invests $47,000 in Newmont Corporation $NEM

Atlantic Union Bankshares Corp bought a new stake in Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 800 shares of the basic materials company’s stock, valued at approximately $47,000.

Other institutional investors have also bought and sold shares of the company. Nuveen LLC purchased a new position in Newmont during the 1st quarter worth $306,507,000. Pacer Advisors Inc. raised its holdings in shares of Newmont by 4,203.5% in the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock valued at $259,580,000 after purchasing an additional 5,251,616 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Newmont by 1,502.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after purchasing an additional 4,399,778 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Newmont by 1,074.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock worth $116,416,000 after purchasing an additional 2,206,017 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Newmont by 2,003.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock worth $92,119,000 after purchasing an additional 1,506,010 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group set a $104.30 target price on Newmont and gave the company a “buy” rating in a report on Sunday, October 12th. Royal Bank Of Canada boosted their price objective on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Citigroup upped their price objective on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $71.50 to $114.00 in a research note on Thursday, October 23rd. Finally, National Bankshares reissued an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.99.

Newmont Trading Up 1.9%

Shares of NEM stock opened at $89.94 on Wednesday. The company has a market capitalization of $98.15 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The business’s fifty day moving average is $83.70 and its 200 day moving average is $68.14. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the business posted $0.81 earnings per share. Newmont’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, equities research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio (DPR) is 15.53%.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the sale, the director owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. This represents a 5.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 11,237 shares of company stock valued at $906,799. Company insiders own 0.05% of the company’s stock.

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.