65,521 Shares in Newmont Corporation $NEM Purchased by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP purchased a new stake in Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 65,521 shares of the basic materials company’s stock, valued at approximately $3,817,000. Newmont accounts for 1.1% of Wakefield Asset Management LLLP’s holdings, making the stock its 22nd biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Concord Wealth Partners grew its holdings in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the period. Evermay Wealth Management LLC raised its stake in Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the period. Cloud Capital Management LLC acquired a new position in shares of Newmont in the 1st quarter valued at $26,000. Colonial Trust Advisors grew its stake 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. Finally, Financial Management Professionals Inc. increased its holdings in shares of Newmont by 274.1% during the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock worth $35,000 after buying an additional 444 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Down 1.8%

Shares of NEM opened at $80.85 on Friday. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58. The stock’s 50-day moving average is $82.25 and its two-hundred day moving average is $66.63. 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 stock has a market cap of $88.23 billion, a PE ratio of 12.55, a P/E/G ratio of 0.53 and a beta of 0.34.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. Equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s payout ratio is presently 15.53%.

Insider Buying and Selling at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction 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 in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director owned 36,869 shares of the company’s stock, valued at $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,172 shares of company stock valued at $808,863 over the last 90 days. Insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Royal Bank Of Canada increased their target price on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. BNP Paribas lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. UBS Group boosted their target price on Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, BNP Paribas Exane increased their target price on shares of Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Five analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Newmont presently has an average rating of “Buy” and a consensus price target of $86.92.

About Newmont

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.