Newmont Corporation $NEM Shares Purchased by Empirical Finance LLC

Empirical Finance LLC grew its position in shares of Newmont Corporation (NYSE:NEM) by 61.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,932 shares of the basic materials company’s stock after acquiring 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 filing with the SEC.

Other institutional investors have also modified their holdings of the company. Hemington Wealth Management boosted its stake in 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 purchasing an additional 170 shares during the period. IVC Wealth Advisors LLC raised its holdings in shares of 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 buying an additional 173 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Newmont by 11.9% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock worth $101,000 after buying an additional 185 shares during the period. Aaron Wealth Advisors LLC increased its position in Newmont by 4.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock valued at $260,000 after acquiring an additional 190 shares during the period. Finally, Chelsea Counsel Co. raised its stake in Newmont by 1.0% during the 2nd quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock valued at $1,067,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NYSE NEM opened at $87.42 on Thursday. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58. The business’s fifty day moving average is $85.20 and its two-hundred day moving average is $69.54. The stock has a market capitalization of $95.40 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.53 and a beta of 0.33. 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 released its quarterly earnings data 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. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the company posted $0.81 EPS. On average, research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s payout ratio is currently 15.53%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NEM shares. National Bankshares restated an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Citigroup boosted their price target on shares of Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Four investment 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, Newmont presently has an average rating of “Moderate Buy” and an average target price of $88.99.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the director owned 34,789 shares of the company’s stock, valued at $2,816,517.44. The trade was a 5.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is owned by insiders.

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.