50,694 Shares in Newmont Corporation $NEM Purchased by Donoghue Forlines LLC

Donoghue Forlines LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,694 shares of the basic materials company’s stock, valued at approximately $2,953,000. Newmont accounts for 0.8% of Donoghue Forlines LLC’s portfolio, making the stock its 15th largest holding.

A number of other large investors have also recently made changes to their positions in the stock. Colonial Trust Advisors lifted its holdings in shares of Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after buying an additional 429 shares during the period. Concord Wealth Partners increased its position 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 acquiring an additional 385 shares during the last quarter. Evermay Wealth Management LLC lifted its holdings in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 400 shares during the period. TCTC Holdings LLC boosted its position in Newmont by 123.1% in the first quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 362 shares during the last quarter. Finally, Dagco Inc. bought a new stake in shares of Newmont during the 1st quarter valued at about $32,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Down 3.7%

Shares of NEM stock opened at $89.67 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The company’s fifty day moving average price is $84.35 and its 200-day moving average price is $68.46. The company has a market capitalization of $97.85 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last issued its earnings results 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 company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. Newmont’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 EPS. Sell-side analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors 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 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NEM. The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the stock a “buy” rating in a report on Sunday, October 12th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. CIBC set a $112.00 price objective on shares of Newmont and gave the company an “outperformer” rating in a research report on Friday, October 10th. Raymond James Financial set a $99.00 price objective on Newmont and gave the stock an “outperform” rating in a research note on Friday, October 24th. Finally, National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $88.99.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, November 3rd. The shares were 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 in the company, valued at $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’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 completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,237 shares of company stock worth $906,799 in the last three months. 0.05% of the stock is owned by corporate 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.