Elevation Point Wealth Partners LLC Makes New $966,000 Investment in Newmont Corporation $NEM

Elevation Point Wealth Partners LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, HoldingsChannel reports. The firm bought 10,340 shares of the basic materials company’s stock, valued at approximately $966,000.

A number of other large investors also recently made changes to their positions in NEM. Brighton Jones LLC lifted its position in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP increased its stake in Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after buying an additional 27,813 shares during the period. Sivia Capital Partners LLC acquired a new position in Newmont in the 2nd quarter valued at approximately $240,000. Cerity Partners LLC lifted its position in Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after buying an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Newmont by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock valued at $2,854,000 after buying an additional 3,856 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 0.2%

Newmont stock opened at $131.84 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The company has a market capitalization of $138.92 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.36 and a beta of 0.47. Newmont Corporation has a one year low of $70.88 and a one year high of $134.88. The company’s fifty day moving average price is $102.12 and its two-hundred day moving average price is $109.03.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the previous year, the firm earned $1.43 earnings per share. On average, analysts forecast that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s payout ratio is 13.13%.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research reports. UBS Group dropped their price target on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada reduced their price objective on Newmont from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. BNP Paribas Exane lowered their target price on Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. Macquarie Infrastructure dropped their target price on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. Finally, BMO Capital Markets lowered their price target on Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $132.73.

Insiders Place Their Bets

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total value of $280,350.00. Following the transaction, the executive vice president owned 40,315 shares in the company, valued at approximately $3,767,436.75. This trade represents a 6.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,091 shares of company stock valued at $3,292,513 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.