Evelyn Partners Investment Management LLP Acquires 151,143 Shares of Newmont Corporation $NEM

Evelyn Partners Investment Management LLP grew its holdings in Newmont Corporation (NYSE:NEM) by 2,255.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 157,843 shares of the basic materials company’s stock after purchasing an additional 151,143 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Newmont were worth $9,496,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Newmont by 59.6% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after buying an additional 5,848 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Newmont by 176.4% in the second quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock worth $26,098,000 after acquiring an additional 285,897 shares during the last quarter. Generate Investment Management Ltd increased its holdings in shares of Newmont by 25.9% during the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after acquiring an additional 77,865 shares in the last quarter. Midwest Trust Co purchased a new position in shares of Newmont in the 2nd quarter worth about $4,424,000. Finally, Kaizen Financial Strategies bought a new position in Newmont in the 2nd quarter worth about $202,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on 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 approximately $2,816,517.44. This trade represents a 5.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was 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 owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is owned by company insiders.

Newmont Trading Up 1.7%

NEM opened at $83.38 on Friday. The firm has a market cap of $90.99 billion, a P/E ratio of 12.95, a P/E/G ratio of 0.53 and a beta of 0.33. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58. The stock has a 50-day moving average of $85.33 and a 200 day moving average of $69.84. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17.

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

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio is presently 15.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NEM shares. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Wednesday. Royal Bank Of Canada raised their price target on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. CIBC set a $112.00 price objective on shares of Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. Finally, Raymond James Financial set a $99.00 target price on shares of Newmont and gave the company an “outperform” rating in a report on Friday, October 24th. Four 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.99.

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.