Sage Mountain Advisors LLC Purchases 2,474 Shares of Newmont Corporation $NEM

Sage Mountain Advisors LLC boosted its holdings in shares of Newmont Corporation (NYSE:NEM) by 27.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,353 shares of the basic materials company’s stock after acquiring an additional 2,474 shares during the period. Sage Mountain Advisors LLC’s holdings in Newmont were worth $661,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cloud Capital Management LLC bought a new stake in shares of Newmont in the 1st quarter worth approximately $26,000. Colonial Trust Advisors boosted its holdings in 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 acquiring an additional 429 shares in the last quarter. Concord Wealth Partners grew its stake in shares of Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares during the last quarter. Evermay Wealth Management LLC increased its holdings in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 400 shares in the last quarter. Finally, Private Trust Co. NA raised its position in shares of Newmont by 122.6% in the 1st 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 during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NEM. Weiss Ratings raised shares of Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday. Citigroup upped their price objective on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Stifel Nicolaus started coverage on Newmont in a report on Wednesday, July 9th. They issued a “buy” rating and a $73.00 target price for the company. Wall Street Zen raised Newmont from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Five analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $90.59.

Newmont Stock Down 6.4%

Newmont stock opened at $83.25 on Friday. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The stock has a fifty day moving average of $81.17 and a 200 day moving average of $65.56. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The stock has a market cap of $91.45 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.57 and a beta of 0.34.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.69% and a net margin of 33.42%.The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the company posted $0.81 EPS. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, sell-side analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio is currently 15.53%.

Insiders Place Their Bets

In related news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction 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 transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares of the company’s stock, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,249 shares of company stock worth $1,132,065. Company insiders own 0.05% of the company’s stock.

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.