Commerzbank Aktiengesellschaft FI boosted its position in Newmont Co. (NYSE:NEM – Free Report) by 2,101.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 385,238 shares of the basic materials company’s stock after purchasing an additional 367,738 shares during the period. Newmont comprises approximately 2.0% of Commerzbank Aktiengesellschaft FI’s portfolio, making the stock its 9th biggest holding. Commerzbank Aktiengesellschaft FI’s holdings in Newmont were worth $16,434,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Compass Wealth Management LLC purchased a new stake in shares of Newmont during the 4th quarter valued at approximately $25,000. Sittner & Nelson LLC lifted its stake in shares of Newmont by 177.5% during the 1st quarter. Sittner & Nelson LLC now owns 555 shares of the basic materials company’s stock valued at $27,000 after buying an additional 355 shares in the last quarter. Nemes Rush Group LLC purchased a new stake in shares of Newmont during the 2nd quarter valued at approximately $28,000. Caldwell Sutter Capital Inc. purchased a new stake in shares of Newmont during the 1st quarter valued at approximately $30,000. Finally, Beaird Harris Wealth Management LLC purchased a new stake in shares of Newmont during the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 79.53% of the company’s stock.
Insider Transactions at Newmont
In other news, COO Robert D. Atkinson sold 5,500 shares of Newmont stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $39.91, for a total value of $219,505.00. Following the transaction, the chief operating officer now owns 76,251 shares in the company, valued at $3,043,177.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Newmont news, COO Robert D. Atkinson sold 5,500 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $39.91, for a total value of $219,505.00. Following the transaction, the chief operating officer now owns 76,251 shares in the company, valued at $3,043,177.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $42.16, for a total transaction of $463,760.00. Following the completion of the transaction, the chief executive officer now owns 267,039 shares in the company, valued at approximately $11,258,364.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,366 shares of company stock worth $1,738,008. Company insiders own 0.07% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating and lowered their price target for the stock from $54.00 to $50.00 in a report on Friday, July 21st. UBS Group lowered their price target on shares of Newmont from $53.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, August 29th. Argus lowered their price target on shares of Newmont from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, July 25th. TD Securities lowered their price target on shares of Newmont from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, July 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $52.00 price target on shares of Newmont in a report on Wednesday, September 6th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.50.
Check Out Our Latest Analysis on NEM
Newmont Price Performance
Shares of NYSE NEM traded up $1.49 during trading hours on Friday, reaching $38.97. 20,582,277 shares of the stock traded hands, compared to its average volume of 14,282,648. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.87 and a current ratio of 2.12. Newmont Co. has a 52-week low of $34.81 and a 52-week high of $60.08. The company’s 50-day simple moving average is $38.75 and its two-hundred day simple moving average is $41.95.
Newmont (NYSE:NEM – Get Free Report) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Newmont had a positive return on equity of 6.28% and a negative net margin of 7.35%. Equities analysts predict that Newmont Co. will post 1.84 EPS for the current fiscal year.
Newmont Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Thursday, November 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 4.11%. Newmont’s dividend payout ratio is currently -155.34%.
About Newmont
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.
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