Newmont Corporation $NEM Stock Position Raised by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its position in Newmont Corporation (NYSE:NEM) by 0.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 114,565 shares of the basic materials company’s stock after buying an additional 821 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Newmont were worth $6,675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cloud Capital Management LLC bought a new stake in Newmont in the first quarter worth approximately $26,000. Colonial Trust Advisors lifted its stake in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 429 shares during the last quarter. Concord Wealth Partners raised its holdings in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares in the last quarter. Evermay Wealth Management LLC lifted its position in shares of Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 347 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the transaction, the director directly owned 36,869 shares of the company’s stock, valued at $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of Newmont stock opened at $79.26 on Wednesday. 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 has a market cap of $86.49 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 0.53 and a beta of 0.34. The firm has a fifty day moving average price of $81.59 and a two-hundred day moving average price of $66.08. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58.

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

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Newmont’s payout ratio is currently 15.53%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NEM shares. BNP Paribas Exane raised their price objective on Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $71.50 to $114.00 in a research report on Thursday, October 23rd. BNP Paribas downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Finally, Stifel Canada raised shares of Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Five analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $86.92.

Newmont Company 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.