Allspring Global Investments Holdings LLC Buys 19,728 Shares of Newmont Corporation $NEM

Allspring Global Investments Holdings LLC raised its holdings in Newmont Corporation (NYSE:NEM) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 826,754 shares of the basic materials company’s stock after purchasing an additional 19,728 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Newmont worth $48,570,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NEM. Cloud Capital Management LLC purchased a new position in shares of Newmont in the first quarter worth about $26,000. Colonial Trust Advisors increased its stake in shares of Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Private Trust Co. NA increased its stake in shares of 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 purchasing an additional 347 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in shares of Newmont in the first quarter worth about $32,000. Finally, TCTC Holdings LLC increased its stake in shares of 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 purchasing an additional 362 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 1.2%

Shares of NEM opened at $90.51 on Wednesday. The firm has a market cap of $99.42 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.99 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $91.24. The firm has a 50 day moving average price of $77.71 and a 200-day moving average price of $63.13.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. 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 prior year, the business posted $0.72 EPS. The firm’s revenue was up 20.8% compared to the same quarter last year. As a group, equities research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on NEM shares. Royal Bank Of Canada raised shares of Newmont from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. UBS Group lifted their target price on shares of Newmont from $70.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Finally, Raymond James Financial set a $96.00 target price on shares of Newmont in a research report on Friday. Four equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $83.18.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the transaction, the director directly owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock worth $1,132,065 in the last three months. 0.05% of the stock is owned by insiders.

Newmont 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.