Vise Technologies Inc. Purchases New Shares in Newmont Corporation $NEM

Vise Technologies Inc. acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,768 shares of the basic materials company’s stock, valued at approximately $1,793,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Newmont by 100.3% during the second quarter. Allworth Financial LP now owns 12,090 shares of the basic materials company’s stock worth $704,000 after purchasing an additional 6,053 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Newmont by 576.5% in the second quarter. Illinois Municipal Retirement Fund now owns 94,288 shares of the basic materials company’s stock valued at $5,493,000 after purchasing an additional 80,350 shares in the last quarter. Fidelis Capital Partners LLC raised its position in Newmont by 38.5% in the 2nd quarter. Fidelis Capital Partners LLC now owns 5,213 shares of the basic materials company’s stock worth $304,000 after purchasing an additional 1,449 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Newmont by 2.8% during the 2nd quarter. ProShare Advisors LLC now owns 238,207 shares of the basic materials company’s stock worth $13,878,000 after buying an additional 6,386 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in Newmont by 0.5% in the 2nd quarter. King Luther Capital Management Corp now owns 59,536 shares of the basic materials company’s stock valued at $3,469,000 after buying an additional 308 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the sale, the director directly owned 34,789 shares in the company, valued at approximately $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 accessible through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% 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. Corporate insiders own 0.05% of the company’s stock.

Newmont Stock Up 1.9%

Shares of NYSE 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 company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The stock has a market cap of $98.15 billion, a P/E ratio of 13.97, a P/E/G ratio of 0.53 and a beta of 0.33. The firm has a 50 day moving average price of $83.70 and a 200 day moving average price of $68.14.

Newmont (NYSE:NEM) last posted its 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. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the business posted $0.81 earnings per share. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. Analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s payout ratio is presently 15.53%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NEM shares. CIBC set a $112.00 target price on Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $71.50 to $114.00 in a research report on Thursday, October 23rd. Royal Bank Of Canada upped their target price on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Finally, Weiss Ratings downgraded shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Newmont 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.