Newmont Co. (NYSE:NEM) Shares Purchased by D.A. Davidson & CO.

Posted by Defense World Staff on Jul 10th, 2023

D.A. Davidson & CO. grew its position in shares of Newmont Co. (NYSE:NEM – Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,825 shares of the basic materials company’s stock after purchasing an additional 3,490 shares during the period. D.A. Davidson & CO.’s holdings in Newmont were worth $6,266,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Compass Wealth Management LLC bought a new stake in shares of Newmont in the fourth quarter worth $25,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in Newmont during the first quarter valued at $26,000. Delta Asset Management LLC TN bought a new stake in Newmont during the fourth quarter valued at $30,000. Romano Brothers AND Company bought a new stake in Newmont during the fourth quarter valued at $34,000. Finally, Private Trust Co. NA boosted its holdings in shares of Newmont by 104.6% during the first quarter. Private Trust Co. NA now owns 759 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 388 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NEM shares. StockNews.com initiated coverage on shares of Newmont in a report on Thursday, May 18th. They set a “hold” rating for the company. National Bank Financial upped their price objective on shares of Newmont from C$91.00 to C$94.00 in a report on Tuesday, May 2nd. The Goldman Sachs Group upped their price objective on shares of Newmont from $58.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, April 21st. Citigroup reduced their price objective on shares of Newmont from $70.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, April 4th. Finally, Raymond James reduced their price objective on shares of Newmont from $58.00 to $57.00 and set an “outperform” rating for the company in a report on Tuesday, May 16th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.46.

Newmont Trading Up 1.7 %

NYSE NEM opened at $42.24 on Monday. The stock’s 50-day moving average price is $43.49 and its two-hundred day moving average price is $46.82. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.38. Newmont Co. has a 1 year low of $37.45 and a 1 year high of $60.40.

Newmont (NYSE:NEM – Free Report) last issued its earnings results on Thursday, April 27th. The basic materials company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.07. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.70 billion. Newmont had a positive return on equity of 6.05% and a negative net margin of 4.55%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. As a group, equities research analysts expect that Newmont Co. will post 2.33 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a $0.40 dividend. The ex-dividend date was Wednesday, May 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.79%. Newmont’s payout ratio is -242.42%.

Insider Activity at Newmont

In related news, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $47.76, for a total value of $143,280.00. Following the completion of the sale, the chief operating officer now owns 81,751 shares of the company’s stock, valued at approximately $3,904,427.76. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $47.76, for a total transaction of $525,360.00. Following the completion of the sale, the chief executive officer now owns 300,039 shares of the company’s stock, valued at $14,329,862.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $47.76, for a total value of $143,280.00. Following the sale, the chief operating officer now directly owns 81,751 shares of the company’s stock, valued at approximately $3,904,427.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,000 shares of company stock valued at $1,589,230. 0.07% of the stock is owned by corporate insiders.

Newmont Company Profile

(Free Report)

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, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.