Vestmark Advisory Solutions Inc. Makes New Investment in Newmont Corporation $NEM

Vestmark Advisory Solutions Inc. purchased a new stake in shares of Newmont Corporation (NYSE:NEM) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 33,015 shares of the basic materials company’s stock, valued at approximately $1,923,000.

A number of other hedge funds have also recently made changes to their positions in NEM. Nuveen LLC bought a new stake in Newmont during the 1st quarter valued at approximately $306,507,000. Pacer Advisors Inc. grew its holdings in Newmont by 4,203.5% during the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock valued at $259,580,000 after buying an additional 5,251,616 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Newmont by 1,502.5% during the 2nd 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 buying an additional 4,399,778 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Newmont by 1,074.8% during 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 buying an additional 2,206,017 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of 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 worth $92,119,000 after buying an additional 1,506,010 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $83.39 on Monday. The company has a market cap of $91.00 billion, a P/E ratio of 12.95, a P/E/G ratio of 0.53 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The business’s 50 day moving average price is $83.14 and its 200-day moving average price is $67.65. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the company earned $0.81 earnings per share. Newmont’s revenue was up 20.0% on a year-over-year basis. Sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont’s payout ratio is currently 15.53%.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the sale, the director owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research analyst reports. Raymond James Financial set a $99.00 target price on shares of Newmont and gave the company an “outperform” rating in a research note on Friday, October 24th. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Citigroup raised their price objective on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Macquarie downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, Weiss Ratings upgraded Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $86.92.

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.