IVC Wealth Advisors LLC Increases Stake in Newmont Corporation $NEM

IVC Wealth Advisors LLC lifted its stake in shares of Newmont Corporation (NYSE:NEM) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,947 shares of the basic materials company’s stock after acquiring an additional 173 shares during the period. IVC Wealth Advisors LLC’s holdings in Newmont were worth $813,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NEM. Brighton Jones LLC lifted its holdings in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 1,847 shares during the period. NBC Securities Inc. lifted its holdings in shares of Newmont by 108,025.0% during the 1st quarter. NBC Securities Inc. now owns 4,325 shares of the basic materials company’s stock worth $208,000 after acquiring an additional 4,321 shares during the period. Merit Financial Group LLC lifted its holdings in shares of Newmont by 107.8% during the 1st quarter. Merit Financial Group LLC now owns 16,998 shares of the basic materials company’s stock worth $821,000 after acquiring an additional 8,817 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Newmont by 7.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 16,264 shares of the basic materials company’s stock worth $785,000 after acquiring an additional 1,089 shares during the period. Finally, Procyon Advisors LLC lifted its holdings in shares of Newmont by 5.8% during the 1st quarter. Procyon Advisors LLC now owns 14,881 shares of the basic materials company’s stock worth $718,000 after acquiring an additional 817 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on NEM shares. UBS Group increased their target price on shares of Newmont from $70.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. BNP Paribas downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Stifel Nicolaus started coverage on shares of Newmont in a research report on Wednesday, July 9th. They set a “buy” rating and a $73.00 target price for the company. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Finally, Stifel Canada raised shares of Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $74.18.

Newmont Stock Up 0.5%

Shares of NYSE:NEM opened at $86.86 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $87.93. The company has a 50 day moving average of $74.37 and a two-hundred day moving average of $61.17. The company has a market capitalization of $95.41 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the company earned $0.72 earnings per share. Newmont’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.2%. Newmont’s dividend payout ratio (DPR) is 17.95%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock valued at $1,132,065 over the last 90 days. 0.05% of the stock is owned by corporate insiders.

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.