Robertson Stephens Wealth Management LLC Buys 4,539 Shares of Newmont Co. (NYSE:NEM)

by · The Cerbat Gem

Robertson Stephens Wealth Management LLC boosted its stake in Newmont Co. (NYSE:NEM – Free Report) by 26.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,850 shares of the basic materials company’s stock after purchasing an additional 4,539 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Newmont were worth $932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Newmont by 101,647.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 547,513,832 shares of the basic materials company’s stock valued at $23,356,940,000 after acquiring an additional 546,975,720 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Newmont by 4.6% in the 2nd quarter. BlackRock Inc. now owns 99,433,731 shares of the basic materials company’s stock valued at $4,241,843,000 after acquiring an additional 4,409,771 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Newmont by 12.8% in the 1st quarter. Deutsche Bank AG now owns 17,968,912 shares of the basic materials company’s stock valued at $880,836,000 after acquiring an additional 2,042,778 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Newmont by 5.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 16,520,075 shares of the basic materials company’s stock valued at $704,746,000 after acquiring an additional 792,046 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Newmont by 13.0% during the 1st quarter. FMR LLC now owns 14,718,524 shares of the basic materials company’s stock valued at $721,502,000 after buying an additional 1,695,666 shares in the last quarter. Institutional investors own 79.53% of the company’s stock.

Newmont Stock Down 0.3 %

Shares of NYSE:NEM opened at $40.08 on Friday. The stock has a fifty day simple moving average of $37.76 and a two-hundred day simple moving average of $40.18. The stock has a market capitalization of $31.86 billion, a price-to-earnings ratio of -39.03, a PEG ratio of 2.03 and a beta of 0.41. Newmont Co. has a 12-month low of $33.58 and a 12-month high of $60.08. The company has a current ratio of 2.12, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM – Get Free Report) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). Newmont had a positive return on equity of 6.28% and a negative net margin of 7.35%. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $3.20 billion. On average, research analysts anticipate that Newmont Co. will post 1.72 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Thursday, November 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Wednesday, November 29th. Newmont’s dividend payout ratio (DPR) is presently -155.34%.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $36.47, for a total transaction of $401,170.00. Following the completion of the sale, the chief executive officer now owns 245,039 shares in the company, valued at $8,936,572.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Newmont news, COO Robert D. Atkinson sold 5,500 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $37.60, for a total value of $206,800.00. Following the completion of the sale, the chief operating officer now owns 65,251 shares in the company, valued at $2,453,437.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $36.47, for a total value of $401,170.00. Following the completion of the sale, the chief executive officer now owns 245,039 shares of the company’s stock, valued at approximately $8,936,572.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,366 shares of company stock worth $1,235,710. 0.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $52.00 price objective on shares of Newmont in a report on Wednesday, September 6th. Jefferies Financial Group decreased their price objective on Newmont from $44.00 to $38.00 and set a “hold” rating on the stock in a report on Wednesday, October 4th. BMO Capital Markets restated an “outperform” rating and set a $58.00 price target (down from $65.00) on shares of Newmont in a research report on Tuesday, November 7th. StockNews.com started coverage on Newmont in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Macquarie started coverage on Newmont in a research report on Tuesday, November 21st. They set an “outperform” rating and a $45.00 price target on the stock. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.52.

Get Our Latest Analysis on Newmont

Newmont Company Profile

(Free Report)

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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