Newmont Corporation $NEM Stake Boosted by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC increased its position in shares of Newmont Corporation (NYSE:NEM) by 1,090.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 149,885 shares of the basic materials company’s stock after purchasing an additional 137,293 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Newmont were worth $7,236,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NEM. SOA Wealth Advisors LLC. increased its position in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after buying an additional 201 shares during the period. Cloud Capital Management LLC acquired a new stake in Newmont in the first quarter worth $26,000. Private Trust Co. NA increased its position in Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after buying an additional 347 shares during the period. Nexus Investment Management ULC acquired a new stake in Newmont in the first quarter worth $31,000. Finally, TCTC Holdings LLC increased its position in Newmont by 123.1% in the first quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock worth $32,000 after buying an additional 362 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

NYSE:NEM opened at $69.04 on Tuesday. The business’s 50-day moving average price is $61.31 and its 200 day moving average price is $53.44. The firm has a market cap of $75.84 billion, a P/E ratio of 12.39, a PEG ratio of 0.82 and a beta of 0.30. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $70.29. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%. Newmont’s revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. As a group, sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont’s payout ratio is presently 17.95%.

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $132,221.82. Following the completion of the transaction, the director owned 41,026 shares of the company’s stock, valued at $2,611,715.16. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,246 shares of company stock valued at $1,373,251 over the last three months. Company insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of several analyst reports. Scotiabank increased their target price on Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Monday, July 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Newmont in a research report on Thursday, April 24th. Royal Bank Of Canada increased their target price on Newmont from $52.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 4th. National Bankshares raised Newmont from a “sector perform” rating to an “outperform” rating in a report on Friday, July 25th. Finally, Stifel Canada raised Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.58.

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.