Barometer Capital Management Inc. Takes Position in Newmont Co. (NYSE:NEM)

Barometer Capital Management Inc. acquired a new position in shares of Newmont Co. (NYSE:NEMGet Rating) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 131,900 shares of the basic materials company’s stock, valued at approximately $11,155,000. Newmont comprises approximately 2.0% of Barometer Capital Management Inc.’s holdings, making the stock its 18th biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of NEM. NewEdge Advisors LLC increased its position in Newmont by 47.9% during the first quarter. NewEdge Advisors LLC now owns 31,945 shares of the basic materials company’s stock worth $2,538,000 after buying an additional 10,351 shares during the last quarter. West Family Investments Inc. increased its position in Newmont by 0.3% during the first quarter. West Family Investments Inc. now owns 162,135 shares of the basic materials company’s stock worth $12,882,000 after buying an additional 536 shares during the last quarter. Mather Group LLC. acquired a new position in Newmont during the first quarter worth $230,000. Covestor Ltd increased its position in Newmont by 39.8% during the first quarter. Covestor Ltd now owns 2,465 shares of the basic materials company’s stock worth $196,000 after buying an additional 702 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Newmont by 25.8% during the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock worth $108,000 after buying an additional 278 shares during the last quarter. 81.11% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Up 0.1 %

NEM stock opened at $42.39 on Friday. Newmont Co. has a twelve month low of $40.27 and a twelve month high of $86.37. The company has a market cap of $33.64 billion, a PE ratio of 42.82 and a beta of 0.29. The business’s 50-day simple moving average is $48.27 and its 200 day simple moving average is $63.67. The company has a quick ratio of 2.44, a current ratio of 2.82 and a debt-to-equity ratio of 0.28.

Newmont (NYSE:NEMGet Rating) last announced its quarterly earnings results on Monday, July 25th. The basic materials company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.14). The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. Newmont had a return on equity of 9.13% and a net margin of 6.40%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 EPS. On average, research analysts anticipate that Newmont Co. will post 2.61 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Wednesday, September 7th. Newmont’s dividend payout ratio is 222.22%.

Insiders Place Their Bets

In other Newmont news, CFO Nancy Buese sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $61.50, for a total transaction of $615,000.00. Following the completion of the transaction, the chief financial officer now owns 39,530 shares in the company, valued at $2,431,095. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Robert D. Atkinson sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $59.43, for a total value of $178,290.00. Following the completion of the sale, the chief operating officer now owns 64,617 shares of the company’s stock, valued at $3,840,188.31. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Nancy Buese sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $61.50, for a total transaction of $615,000.00. Following the completion of the sale, the chief financial officer now directly owns 39,530 shares of the company’s stock, valued at approximately $2,431,095. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock worth $2,081,920 over the last quarter. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Canaccord Genuity Group raised shares of Newmont from a “hold” rating to a “buy” rating and lowered their target price for the stock from $66.00 to $60.00 in a research report on Wednesday, July 27th. National Bank Financial raised Newmont from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 27th. TD Securities lowered their price target on Newmont from $64.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, July 26th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday. Finally, Raymond James lowered their price target on Newmont from $76.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 26th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Newmont has an average rating of “Hold” and a consensus target price of $69.10.

Newmont Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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