Newmont Co. Sees Increase in Institutional Holdings (NYSE:NEM)

December 20, 2024 10:08 AM PST | By Team Kalkine Media

Newmont Co. Sees Increase in Institutional Holdings (NYSE:NEM) — Image source: shutterstock

Highlights

Sanctuary Advisors LLC increases its holdings in Newmont Co. by 117.3%.
Newmont Co. shares show notable market activity.
Institutional investors adjust their stakes in Newmont Co.

Sanctuary Advisors LLC has significantly increased its holdings in Newmont Co. reflecting a broader trend among institutional investors within the NYSE Metal and Mining Stocks sector. This significant adjustment highlights Newmont's robust market performance and strategic positioning in the industry.

Significant Increase in Holdings

Sanctuary Advisors LLC has significantly increased its holdings in Newmont Co. (NYSE:NEM) by 117.3% during the third quarter. According to the company’s latest Form 13F filing with the Securities & Exchange Commission, the institutional investor now owns 34,686 shares of the basic materials company’s stock after acquiring an additional 18,722 shares. This move brings the value of Sanctuary Advisors LLC's holdings in Newmont to $1,854,000 at the end of the most recent quarter.

Institutional Investors Adjust Stakes

Several other institutional investors and hedge funds have also modified their holdings in Newmont Co. Premier Path Wealth Partners LLC purchased a new position in Newmont during the second quarter, while Everhart Financial Group Inc. bought a new stake around the same time. LRI Investments LLC boosted its stake in Newmont by 112.3% in the second quarter, and Moody Lynn & Lieberson LLC acquired a new position. AMG National Trust Bank increased its stake in Newmont by 5.4% during the second quarter, contributing to the 68.85% of the stock now owned by hedge funds and other institutional investors.

Newmont’s Stock Performance

Newmont’s stock opened at $37.02 on Friday. The company has a market capitalization of $42.15 billion, a PE ratio of -24.36, a price-to-earnings-growth ratio of 0.35, and a beta of 0.49. Over the past year, the stock has ranged from a low of $29.42 to a high of $58.72. The company’s 50-day moving average is $45.35, and its 200-day moving average is $47.23. Newmont’s financial health is reflected in its debt-to-equity ratio of 0.30, a quick ratio of 1.73, and a current ratio of 1.96.

Quarterly Earnings Report

Newmont’s recent quarterly earnings results reported $0.81 earnings per share, missing the consensus estimate of $0.86 by $0.05. The basic materials company had a negative net margin of 7.03% but a positive return on equity of 9.80%. Revenue for the quarter was $4.61 billion, compared to analysts' expectations of $4.67 billion, reflecting an 84.7% year-over-year increase. Analysts forecast that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Dividend Announcement

Newmont recently announced a quarterly dividend, payable on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will receive a dividend of $0.25 per share. This equates to an annualized dividend yield of 2.70%. The ex-dividend date was Wednesday, November 27th. Newmont's current payout ratio stands at -65.79%.

Sanctuary Advisors LLC’s increased stake in Newmont Co. underscores the company’s strong market position. With other institutional investors adjusting their holdings and Newmont’s robust stock performance, the company remains a key player in the basic materials sector. Newmont’s recent earnings and dividend announcements further highlight its financial stability and growth potential.

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