Fidelis Capital Partners LLC Boosts Stock Position in Newmont Corporation $NEM

Fidelis Capital Partners LLC grew its position in Newmont Corporation (NYSE:NEM) by 38.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,213 shares of the basic materials company’s stock after purchasing an additional 1,449 shares during the period. Fidelis Capital Partners LLC’s holdings in Newmont were worth $304,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the period. Allworth Financial LP raised its holdings in shares of Newmont by 25.7% during the first quarter. Allworth Financial LP now owns 6,037 shares of the basic materials company’s stock worth $291,000 after purchasing an additional 1,234 shares during the last quarter. Schechter Investment Advisors LLC acquired a new position in Newmont during the first quarter valued at $218,000. CWM LLC lifted its position in Newmont by 12.7% during the first quarter. CWM LLC now owns 18,670 shares of the basic materials company’s stock valued at $901,000 after purchasing an additional 2,103 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in Newmont by 28.2% in the first quarter. Bleakley Financial Group LLC now owns 18,986 shares of the basic materials company’s stock valued at $917,000 after purchasing an additional 4,179 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 1.9%

Shares of NEM opened at $89.94 on Wednesday. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58. The stock has a market cap of $98.15 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The firm’s fifty day moving average is $83.70 and its two-hundred day moving average is $68.14. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the transaction, the director owned 34,789 shares in the company, valued at approximately $2,816,517.44. This represents a 5.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 11,237 shares of company stock valued at $906,799 over the last 90 days. Company insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of a number of analyst reports. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. 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. Bank of America raised their price target on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Citigroup lifted their price objective on shares of Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, UBS Group increased their target price on shares of Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.99.

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.