Savant Capital LLC Has $1.74 Million Stock Holdings in Newmont Corporation $NEM

Savant Capital LLC boosted its stake in Newmont Corporation (NYSE:NEM) by 61.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 29,916 shares of the basic materials company’s stock after acquiring an additional 11,337 shares during the quarter. Savant Capital LLC’s holdings in Newmont were worth $1,743,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Concord Wealth Partners increased its holdings in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew its position in Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares during the last quarter. Colonial Trust Advisors increased its holdings in Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Financial Management Professionals Inc. raised its position in Newmont by 274.1% in the second quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 444 shares during the last quarter. Finally, ST Germain D J Co. Inc. raised its position in Newmont by 92.3% in the second quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM opened at $89.94 on Wednesday. The firm 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. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58. The business’s 50 day moving average price is $83.70 and its two-hundred day moving average price is $68.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

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

Newmont Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio is currently 15.53%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the sale, the director directly owned 34,789 shares in the company, valued at $2,816,517.44. This trade represents a 5.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were 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. The trade was a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,237 shares of company stock worth $906,799 in the last three months. Insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NEM. Raymond James Financial set a $99.00 price objective on Newmont and gave the company an “outperform” rating in a research note on Friday, October 24th. Citigroup upped their price target on shares of Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Macquarie downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. The Goldman Sachs Group set a $104.30 price target on shares of Newmont and gave the stock a “buy” rating in a report on Sunday, October 12th. Finally, Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.