Newmont Co. (NYSE:NEM) Stock Position Lessened by Ossiam

Financial News Live · Nov 26, 2022 23:42

Ossiam decreased its holdings in Newmont Co. (NYSE:NEM – Get Rating) by 19.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 45,577 shares of the basic materials company's stock after selling 11,184 shares during the quarter. Ossiam's holdings in Newmont were worth $2,720,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of NEM. Pacific Center for Financial Services bought a new position in Newmont during the first quarter valued at about $30,000. Hoey Investments Inc. bought a new position in Newmont during the second quarter valued at about $30,000. Crewe Advisors LLC boosted its stake in Newmont by 98.0% during the second quarter. Crewe Advisors LLC now owns 584 shares of the basic materials company's stock valued at $35,000 after buying an additional 289 shares in the last quarter. Central Bank & Trust Co. boosted its stake in Newmont by 64.3% during the second quarter. Central Bank & Trust Co. now owns 608 shares of the basic materials company's stock valued at $36,000 after buying an additional 238 shares in the last quarter. Finally, Concord Wealth Partners boosted its stake in Newmont by 193.0% during the second quarter. Concord Wealth Partners now owns 630 shares of the basic materials company's stock valued at $38,000 after buying an additional 415 shares in the last quarter. Institutional investors own 81.11% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently weighed in on the company. Fundamental Research reaffirmed a "buy" rating and set a $52.00 target price (down previously from $63.91) on shares of Newmont in a research note on Tuesday, November 15th. TheStreet lowered Newmont from a "b-" rating to a "c+" rating in a research report on Thursday, September 22nd. Barclays decreased their price target on Newmont from $55.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, November 21st. StockNews.com initiated coverage on Newmont in a research report on Wednesday, October 12th. They issued a "hold" rating for the company. Finally, The Goldman Sachs Group started coverage on Newmont in a research report on Monday, September 12th. They issued a "buy" rating and a $53.00 price target for the company. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Newmont presently has a consensus rating of "Hold" and an average target price of $63.33.

Newmont Stock Down 0.9 %

NEM opened at $45.85 on Friday. Newmont Co. has a fifty-two week low of $37.45 and a fifty-two week high of $86.37. The business has a 50-day moving average of $42.95 and a 200-day moving average of $51.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 2.29. The company has a market capitalization of $36.39 billion, a PE ratio of 36.39 and a beta of 0.25.

Newmont (NYSE:NEM – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.02). Newmont had a return on equity of 8.07% and a net margin of 8.28%. The firm had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.79 billion. Equities research analysts forecast that Newmont Co. will post 1.9 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Wednesday, December 7th. Newmont's payout ratio is 174.60%.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the firm's stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $42.71, for a total value of $469,810.00. Following the transaction, the chief executive officer now directly owns 232,949 shares of the company's stock, valued at approximately $9,949,251.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was sold at an average price of $41.98, for a total value of $205,282.20. Following the sale, the insider now owns 18,217 shares of the company's stock, valued at approximately $764,749.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the firm's stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $42.71, for a total value of $469,810.00. Following the completion of the sale, the chief executive officer now directly owns 232,949 shares in the company, valued at approximately $9,949,251.79. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,890 shares of company stock valued at $1,405,502. Corporate insiders own 0.11% of the company's stock.

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.