Newmont Corporation $NEM Shares Purchased by TriaGen Wealth Management LLC

TriaGen Wealth Management LLC grew its position in Newmont Corporation (NYSE:NEM) by 20.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,243 shares of the basic materials company’s stock after acquiring an additional 1,886 shares during the period. TriaGen Wealth Management LLC’s holdings in Newmont were worth $655,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in Newmont by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock worth $773,159,000 after acquiring an additional 1,306,783 shares during the period. Northern Trust Corp lifted its holdings in Newmont by 1.5% in the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after purchasing an additional 191,940 shares in the last quarter. Amundi boosted its stake in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock worth $611,187,000 after purchasing an additional 343,535 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Newmont by 2.2% during the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock worth $518,936,000 after buying an additional 228,116 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Newmont by 15.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after acquiring an additional 1,201,237 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NEM opened at $88.60 on Tuesday. The stock’s 50-day moving average price is $74.87 and its 200 day moving average price is $61.56. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $89.37. The firm has a market cap of $97.32 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 0.97 and a beta of 0.34. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM) last issued its quarterly earnings results 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. The company 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 prior year, the firm earned $0.72 earnings per share. As a group, sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont’s dividend payout ratio is 17.95%.

Wall Street Analyst Weigh In

Several research firms recently commented on NEM. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. CIBC raised their target price on Newmont from $74.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, September 12th. Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Finally, Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $74.18.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’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 completion of 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock worth $1,132,065 in the last ninety days. 0.05% of the stock is owned by corporate insiders.

Newmont 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.