Arista Wealth Management LLC Takes Position in Newmont Corporation $NEM

Arista Wealth Management LLC purchased a new stake in Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,600 shares of the basic materials company’s stock, valued at approximately $209,000.

Other large investors have also made changes to their positions in the company. Knights of Columbus Asset Advisors LLC grew its stake in shares of Newmont by 59.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after buying an additional 5,848 shares in the last quarter. Generate Investment Management Ltd grew its stake in shares of Newmont by 25.9% in the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after buying an additional 77,865 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock valued at $569,000 after buying an additional 1,379 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Newmont in the 1st quarter valued at approximately $423,000. Finally, Spire Wealth Management grew its stake in shares of Newmont by 125.0% in the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock valued at $114,000 after buying an additional 1,309 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 7.6%

Shares of NEM stock opened at $90.76 on Friday. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58. The firm has a market cap of $99.69 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.07 and a beta of 0.34. The stock has a 50 day moving average of $79.24 and a 200-day moving average of $63.97. 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 issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s payout ratio is 17.95%.

Analysts Set New Price Targets

Several brokerages recently commented on NEM. National Bankshares reissued an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Stifel Canada raised Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. UBS Group upped their target price on Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a research report on Thursday. TD Securities upped their target price on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Finally, Bank of America upped their target price on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $87.59.

Insider Transactions at Newmont

In other news, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the transaction, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock worth $1,132,065 over the last three months. 0.05% of the stock is currently owned by insiders.

Newmont Company Profile

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.