Apollon Wealth Management LLC Increases Stock Holdings in Newmont Co. (NYSE:NEM)

Apollon Wealth Management LLC lifted its stake in shares of Newmont Co. (NYSE:NEM) by 43.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,660 shares of the basic materials company’s stock after buying an additional 2,640 shares during the quarter. Apollon Wealth Management LLC’s holdings in Newmont were worth $463,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Red Cedar Investment Management LLC acquired a new stake in shares of Newmont during the third quarter worth about $1,263,000. Bessemer Group Inc. increased its position in Newmont by 7.5% during the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock worth $271,000 after buying an additional 529 shares during the period. Herr Investment Group LLC purchased a new stake in Newmont in the second quarter valued at approximately $419,000. Truist Financial Corp boosted its holdings in shares of Newmont by 8.1% in the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock valued at $6,295,000 after acquiring an additional 11,276 shares during the period. Finally, Cetera Trust Company N.A purchased a new position in shares of Newmont during the third quarter worth approximately $705,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $40.93 on Friday. The business has a 50 day moving average price of $51.11 and a 200 day moving average price of $47.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company has a market capitalization of $46.60 billion, a P/E ratio of -26.91, a PEG ratio of 0.34 and a beta of 0.51. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. Sell-side analysts expect that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analyst Upgrades and Downgrades

NEM has been the topic of several research reports. Bernstein Bank raised their price objective on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group upped their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.14.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock worth $2,444,440 over the last ninety days. 0.06% of the stock is currently 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.