Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stock Holdings in Newmont Corporation $NEM

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Newmont Corporation (NYSE:NEM) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,075 shares of the basic materials company’s stock after acquiring an additional 1,597 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Newmont were worth $2,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new position in Newmont in the 2nd quarter worth $19,016,000. Hilltop National Bank purchased a new position in Newmont in the 2nd quarter worth $1,472,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Newmont by 3.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 189,848 shares of the basic materials company’s stock worth $11,061,000 after acquiring an additional 6,918 shares during the last quarter. J. Safra Sarasin Holding AG raised its stake in Newmont by 124.3% in the 2nd quarter. J. Safra Sarasin Holding AG now owns 78,651 shares of the basic materials company’s stock worth $4,582,000 after acquiring an additional 43,584 shares during the last quarter. Finally, EWA LLC purchased a new position in Newmont in the 2nd quarter worth $300,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock worth $1,132,065 in the last 90 days. Corporate insiders own 0.05% of the company’s stock.

Newmont Price Performance

Shares of Newmont stock opened at $86.86 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $87.93. The business has a 50-day moving average price of $74.37 and a 200 day moving average price of $61.08. The firm has a market cap of $95.41 billion, a PE ratio of 15.59, a P/E/G ratio of 0.96 and a beta of 0.34.

Newmont (NYSE:NEM) last announced its quarterly earnings results 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. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the business earned $0.72 EPS. Newmont’s revenue for the quarter was up 20.8% compared to the same quarter last year. Sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont’s payout ratio is currently 17.95%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BNP Paribas lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Scotiabank boosted their price objective on Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a report on Monday, July 28th. CIBC boosted their price objective on Newmont from $74.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, September 12th. Finally, Raymond James Financial boosted their price objective on Newmont from $77.00 to $84.00 and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.18.

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.