Live Oak Private Wealth LLC Has $8.44 Million Position in Newmont Corporation $NEM

Live Oak Private Wealth LLC raised its holdings in Newmont Corporation (NYSE:NEM) by 0.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 144,842 shares of the basic materials company’s stock after purchasing an additional 207 shares during the quarter. Newmont accounts for approximately 1.3% of Live Oak Private Wealth LLC’s investment portfolio, making the stock its 29th biggest position. Live Oak Private Wealth LLC’s holdings in Newmont were worth $8,439,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NEM. Brighton Jones LLC boosted its holdings in shares of Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock valued at $569,000 after purchasing an additional 1,379 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Newmont by 40.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 15,434 shares of the basic materials company’s stock valued at $745,000 after purchasing an additional 4,415 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Newmont by 37.3% in the 1st quarter. Mather Group LLC. now owns 45,967 shares of the basic materials company’s stock valued at $2,219,000 after purchasing an additional 12,494 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Newmont by 6.7% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 167,969 shares of the basic materials company’s stock valued at $8,110,000 after purchasing an additional 10,520 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research analyst reports. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. TD Securities raised their target price on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Wall Street Zen upgraded Newmont from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. Stifel Nicolaus began coverage on Newmont in a research note on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price target for the company. Finally, Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Newmont currently has a consensus rating of “Buy” and a consensus price target of $86.92.

Newmont Stock Up 0.3%

Shares of NEM opened at $79.60 on Thursday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58. The stock has a market capitalization of $86.87 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 0.53 and a beta of 0.34. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The stock has a fifty day moving average of $81.80 and a 200-day moving average of $66.25.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 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 period in the prior year, the company earned $0.81 EPS. As a group, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business 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. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,249 shares of company stock valued at $1,132,065 in the last three months. Insiders own 0.05% of the company’s stock.

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.