Newmont Co. (NYSE:NEM) Stock Holdings Increased by CVA Family Office LLC

CVA Family Office LLC grew its stake in shares of Newmont Co. (NYSE:NEM) by 237.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,598 shares of the basic materials company’s stock after purchasing an additional 1,125 shares during the quarter. CVA Family Office LLC’s holdings in Newmont were worth $67,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Manchester Capital Management LLC boosted its position in shares of Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after buying an additional 397 shares during the period. LRI Investments LLC acquired a new position in shares of Newmont in the 1st quarter worth $25,000. Heritage Wealth Advisors boosted its position in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares during the period. Crewe Advisors LLC acquired a new stake in shares of Newmont in the first quarter worth $35,000. Finally, Advantage Trust Co acquired a new stake in shares of Newmont in the fourth quarter worth $41,000. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. BNP Paribas raised Newmont to a “strong-buy” rating in a research report on Friday, June 21st. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and raised their target price for the company from $40.00 to $50.00 in a report on Monday, June 17th. National Bank Financial downgraded Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Scotiabank lifted their price target on Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Finally, CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and increased their price objective for the company from $46.00 to $61.00 in a research report on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Newmont Price Performance

NYSE NEM traded down $1.20 during trading on Wednesday, reaching $46.40. 5,663,016 shares of the company traded hands, compared to its average volume of 11,198,878. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The stock’s 50 day moving average price is $44.15 and its two-hundred day moving average price is $39.37. The company has a market cap of $53.51 billion, a price-to-earnings ratio of -17.38, a P/E/G ratio of 0.37 and a beta of 0.47. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $50.72.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. Newmont’s revenue was up 64.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. As a group, analysts anticipate that Newmont Co. will post 2.76 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.16%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

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, Papua New Guinea, Ecuador, Fiji, and Ghana.