Greenleaf Trust Acquires 4,135 Shares of Newmont Co. (NYSE:NEM)

Financial News Live · Nov 22, 2022 22:51

Greenleaf Trust increased its holdings in shares of Newmont Co. (NYSE:NEM – Get Rating) by 18.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,090 shares of the basic materials company's stock after acquiring an additional 4,135 shares during the quarter. Greenleaf Trust's holdings in Newmont were worth $1,616,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. increased its position in Newmont by 0.8% during the first quarter. BlackRock Inc. now owns 92,339,052 shares of the basic materials company's stock worth $7,336,337,000 after acquiring an additional 703,555 shares during the period. Vanguard Group Inc. increased its position in Newmont by 1.9% during the first quarter. Vanguard Group Inc. now owns 66,911,768 shares of the basic materials company's stock worth $5,316,140,000 after acquiring an additional 1,225,458 shares during the period. State Street Corp grew its stake in Newmont by 0.7% during the first quarter. State Street Corp now owns 40,619,717 shares of the basic materials company's stock worth $3,227,237,000 after buying an additional 270,396 shares in the last quarter. GQG Partners LLC grew its stake in Newmont by 182.0% during the first quarter. GQG Partners LLC now owns 32,070,891 shares of the basic materials company's stock worth $2,547,688,000 after buying an additional 20,699,677 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in Newmont by 0.4% during the first quarter. First Eagle Investment Management LLC now owns 17,502,393 shares of the basic materials company's stock worth $1,390,565,000 after buying an additional 69,139 shares in the last quarter. 81.11% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NEM. Raymond James reduced their price objective on shares of Newmont from $60.00 to $58.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 2nd. Eight Capital reduced their price objective on shares of Newmont to $58.00 in a research note on Thursday, October 27th. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and set a $50.00 price objective on the stock in a research note on Tuesday, September 6th. Fundamental Research restated a "buy" rating and issued a $52.00 price target on shares of Newmont in a research note on Tuesday, November 15th. Finally, Canaccord Genuity Group upgraded shares of Newmont from a "hold" rating to a "buy" rating and reduced their price target for the company from $66.00 to $60.00 in a research note on Wednesday, July 27th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.33.

Newmont Stock Down 0.3 %

Shares of NYSE NEM opened at $45.00 on Tuesday. The company has a 50 day simple moving average of $42.75 and a 200 day simple moving average of $51.28. The firm has a market cap of $35.72 billion, a PE ratio of 35.71 and a beta of 0.25. Newmont Co. has a 1 year low of $37.45 and a 1 year high of $86.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 2.29.

Newmont (NYSE:NEM – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.02). Newmont had a net margin of 8.28% and a return on equity of 8.07%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. On average, research analysts forecast that Newmont Co. will post 1.89 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $2.20 annualized dividend and a yield of 4.89%. Newmont's payout ratio is 174.60%.

Insiders Place Their Bets

In other Newmont news, insider Mark Casper sold 4,890 shares of the firm's stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total transaction of $205,282.20. Following the completion of the transaction, the insider now owns 18,217 shares in the company, valued at approximately $764,749.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Newmont news, insider Mark Casper sold 4,890 shares of the firm's stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total transaction of $205,282.20. Following the completion of the transaction, the insider now owns 18,217 shares in the company, valued at approximately $764,749.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $42.71, for a total transaction of $128,130.00. Following the completion of the sale, the chief operating officer now owns 42,947 shares of the company's stock, valued at approximately $1,834,266.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,890 shares of company stock worth $1,405,502. 0.11% of the stock is currently owned by insiders.

Newmont Company Profile

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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, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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