Columbia Asset Management Grows Holdings in Newmont Corporation $NEM

Columbia Asset Management boosted its holdings in Newmont Corporation (NYSE:NEM) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,270 shares of the basic materials company’s stock after purchasing an additional 401 shares during the quarter. Columbia Asset Management’s holdings in Newmont were worth $365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Park Place Capital Corp raised its position in Newmont by 13,821.0% in the 2nd quarter. Park Place Capital Corp now owns 14,617 shares of the basic materials company’s stock valued at $860,000 after purchasing an additional 14,512 shares during the last quarter. Greenleaf Trust increased its stake in Newmont by 9.2% in the 2nd quarter. Greenleaf Trust now owns 25,901 shares of the basic materials company’s stock valued at $1,509,000 after buying an additional 2,190 shares during the period. Capital Investment Advisors LLC increased its stake in Newmont by 1.7% in the 2nd quarter. Capital Investment Advisors LLC now owns 711,687 shares of the basic materials company’s stock valued at $41,463,000 after buying an additional 12,194 shares during the period. Oak Family Advisors LLC increased its stake in Newmont by 91.4% in the 2nd quarter. Oak Family Advisors LLC now owns 67,309 shares of the basic materials company’s stock valued at $3,921,000 after buying an additional 32,139 shares during the period. Finally, HB Wealth Management LLC increased its stake in Newmont by 39.9% in the 2nd quarter. HB Wealth Management LLC now owns 27,719 shares of the basic materials company’s stock valued at $1,615,000 after buying an additional 7,904 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent research reports. BNP Paribas cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. The Goldman Sachs Group upped their price target on shares of Newmont from $63.10 to $77.30 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.38.

Newmont Price Performance

Newmont stock opened at $84.29 on Wednesday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $87.93. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The firm’s 50-day simple moving average is $72.97 and its 200 day simple moving average is $60.37. The firm has a market capitalization of $92.59 billion, a PE ratio of 15.13, a P/E/G ratio of 0.98 and a beta of 0.34.

Newmont (NYSE:NEM) last released its quarterly earnings data 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. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 EPS. On average, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont’s dividend payout ratio is 17.95%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total transaction of $154,923.43. Following the completion of the transaction, the director owned 38,949 shares in the company, valued at approximately $2,905,205.91. This trade represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,169 shares of company stock worth $955,286. Corporate 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.