Quotient Wealth Partners LLC Takes Position in Newmont Corporation $NEM

Quotient Wealth Partners LLC acquired a new stake in Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,961 shares of the basic materials company’s stock, valued at approximately $289,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nuveen LLC acquired a new stake in Newmont in the first quarter valued at approximately $306,507,000. Pacer Advisors Inc. raised its holdings in Newmont by 4,203.5% in the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock valued at $259,580,000 after acquiring an additional 5,251,616 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Newmont by 1,502.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after acquiring an additional 4,399,778 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Newmont by 1,074.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock valued at $116,416,000 after acquiring an additional 2,206,017 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Newmont by 2,003.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock valued at $92,119,000 after acquiring an additional 1,506,010 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the topic of several analyst reports. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Stifel Canada raised shares of Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Bank of America raised their target price on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday. Citigroup raised their price objective on shares of Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Scotiabank raised their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $87.59.

Insider Activity

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the transaction, the director directly owned 36,869 shares of the company’s stock, valued at $3,133,496.31. The trade was a 5.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% 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 ninety days. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Down 7.6%

NEM stock opened at $90.76 on Monday. The company has a current ratio of 2.23, a quick ratio of 1.91 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 $98.58. The company’s 50 day moving average is $79.24 and its two-hundred day moving average is $64.19. The stock has a market cap of $99.69 billion, a P/E ratio of 16.29, a PEG ratio of 0.63 and a beta of 0.34.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the company earned $0.72 earnings per share. Research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont’s payout ratio is presently 17.95%.

Newmont Company 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.