Newmont Corporation $NEM Position Increased by Empirical Finance LLC

Empirical Finance LLC raised its position in Newmont Corporation (NYSE:NEM) by 61.0% during the second quarter, HoldingsChannel.com reports. The firm owned 48,932 shares of the basic materials company’s stock after buying an additional 18,533 shares during the quarter. Empirical Finance LLC’s holdings in Newmont were worth $2,851,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Hemington Wealth Management lifted its holdings in shares of Newmont by 17.6% during the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after buying an additional 170 shares during the last quarter. IVC Wealth Advisors LLC raised its position in Newmont by 1.3% during the second quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock valued at $813,000 after acquiring an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Newmont by 11.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 185 shares during the last quarter. Aaron Wealth Advisors LLC grew its position in Newmont by 4.4% in the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock worth $260,000 after acquiring an additional 190 shares in the last quarter. Finally, Chelsea Counsel Co. increased its stake in shares of Newmont by 1.0% during the 2nd quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock worth $1,067,000 after purchasing an additional 190 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Up 0.9%

Shares of Newmont stock opened at $87.42 on Thursday. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58. The firm has a market capitalization of $95.40 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The company’s fifty day moving average price is $85.20 and its two-hundred day moving average price is $69.54.

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, beating analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. On average, analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. UBS Group increased their price objective on Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a report on Thursday, October 16th. BNP Paribas downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, CIBC set a $112.00 price target on shares of Newmont and gave the company an “outperformer” rating in a research report on Friday, October 10th. Four 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 assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.99.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total transaction of $168,396.80. Following 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 position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 11,237 shares of company stock valued at $906,799. Company insiders own 0.05% of the company’s stock.

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.