Avidian Wealth Enterprises LLC Has $918,000 Holdings in Newmont Corporation $NEM

Avidian Wealth Enterprises LLC raised its position in shares of Newmont Corporation (NYSE:NEM) by 5.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 15,761 shares of the basic materials company’s stock after buying an additional 779 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Newmont were worth $918,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Concord Wealth Partners lifted its position in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares in the last quarter. Evermay Wealth Management LLC lifted its holdings in shares of Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in shares of Newmont in the first quarter worth $26,000. Colonial Trust Advisors grew its holdings in shares of Newmont by 315.4% during the first 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 in the last quarter. Finally, Financial Management Professionals Inc. grew its holdings in shares of Newmont by 274.1% during the second quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after buying an additional 444 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares of the company’s stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock valued at $1,132,065 in the last 90 days. 0.05% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Securities increased their price target on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Weiss Ratings lowered shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. BNP Paribas Exane lifted their target price on shares of Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Finally, CIBC set a $112.00 price target on shares of Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. Four analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $87.59.

Newmont Stock Down 9.1%

NEM stock opened at $86.26 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58. The company has a 50-day moving average of $80.11 and a two-hundred day moving average of $64.69. The stock has a market capitalization of $94.75 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 0.65 and a beta of 0.34.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. As a group, equities research analysts anticipate 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. Shareholders of record on Thursday, September 4th were paid 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 yield of 1.2%. Newmont’s payout ratio is currently 17.95%.

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.