Atria Investments Inc Invests $534,000 in Newmont Corporation $NEM

Atria Investments Inc acquired a new stake in Newmont Corporation (NYSE:NEM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,159 shares of the basic materials company’s stock, valued at approximately $534,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Colonial Trust Advisors lifted its holdings in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after buying an additional 429 shares during the period. Concord Wealth Partners grew its holdings in Newmont by 534.7% during 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 period. Evermay Wealth Management LLC raised its position in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares in the last quarter. TCTC Holdings LLC lifted its holdings in Newmont by 123.1% in the first quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 362 shares during the period. Finally, Dagco Inc. purchased a new stake in shares of Newmont during the 1st quarter worth $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 1.0%

Shares of NEM opened at $83.39 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The stock has a market cap of $91.00 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The firm has a 50 day simple moving average of $83.14 and a 200-day simple moving average of $67.65.

Newmont (NYSE:NEM) last posted its 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. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.Newmont’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. Equities analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. The Goldman Sachs Group set a $104.30 target price on shares of Newmont and gave the stock a “buy” rating in a research report on Sunday, October 12th. Raymond James Financial set a $99.00 price target on shares of Newmont and gave the company an “outperform” rating in a research report on Friday, October 24th. Bank of America boosted their price target on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, BNP Paribas Exane raised their price objective on Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $86.92.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the transaction, the director owned 34,789 shares in the company, valued at approximately $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is currently owned by company insiders.

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.