Focus Partners Advisor Solutions LLC Grows Position in Newmont Corporation $NEM

Focus Partners Advisor Solutions LLC increased its position in shares of Newmont Corporation (NYSE:NEM) by 87.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 40,235 shares of the basic materials company’s stock after buying an additional 18,790 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Newmont were worth $4,018,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its stake in Newmont by 64.6% during the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after buying an additional 79,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Newmont by 24.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after buying an additional 54,530 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in Newmont by 124.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after buying an additional 183,360 shares during the last quarter. Waverton Investment Management Ltd grew its stake in Newmont by 3.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock worth $59,365,000 after buying an additional 23,139 shares during the last quarter. Finally, Leonteq Securities AG purchased a new position in Newmont during the 4th quarter worth approximately $9,018,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 0.4%

Newmont stock opened at $98.55 on Wednesday. Newmont Corporation has a twelve month low of $52.31 and a twelve month high of $134.88. The stock has a 50 day moving average of $111.63 and a two-hundred day moving average of $109.87. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $105.20 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.64 and a beta of 0.42.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. As a group, research analysts expect that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

Analysts Set New Price Targets

NEM has been the topic of a number of research reports. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Royal Bank Of Canada decreased their price objective on Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Macquarie Infrastructure increased their price objective on Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. National Bank Financial increased their price objective on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.26.

Insiders Place Their Bets

In other news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This trade represents a 2.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 49,950 shares of company stock worth $5,494,288. Corporate insiders own 0.06% of the company’s stock.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.