Newmont Corporation $NEM Stock Position Boosted by Evelyn Partners Investment Management Services Ltd

Evelyn Partners Investment Management Services Ltd boosted its holdings in Newmont Corporation (NYSE:NEM) by 238.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 22,701 shares of the basic materials company’s stock after buying an additional 16,001 shares during the quarter. Evelyn Partners Investment Management Services Ltd’s holdings in Newmont were worth $1,323,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares during the last quarter. Wedbush Securities Inc. increased its stake in Newmont by 6.4% in the first quarter. Wedbush Securities Inc. now owns 15,137 shares of the basic materials company’s stock valued at $731,000 after acquiring an additional 908 shares during the period. Brookwood Investment Group LLC bought a new position in shares of Newmont during the first quarter valued at $221,000. Avantax Advisory Services Inc. boosted its holdings in shares of Newmont by 29.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 20,643 shares of the basic materials company’s stock worth $997,000 after acquiring an additional 4,659 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in Newmont by 37.8% in the 1st quarter. Cetera Investment Advisers now owns 186,105 shares of the basic materials company’s stock valued at $8,985,000 after acquiring an additional 51,039 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on NEM. BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Raymond James Financial set a $99.00 target price on Newmont and gave the stock an “outperform” rating in a research report on Friday, October 24th. Finally, The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the stock a “buy” rating in a research report on Sunday, October 12th. Four 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 issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.99.

Insider Buying and Selling

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the 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 owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the director owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This represents a 5.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,237 shares of company stock valued at $906,799 over the last three months. Insiders own 0.05% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $83.38 on Friday. The firm has a market capitalization of $90.99 billion, a price-to-earnings ratio of 12.95, a PEG 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 business’s 50-day moving average price is $85.33 and its 200-day moving average price is $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 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. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the company earned $0.81 EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. Equities research analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

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

Newmont 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.