Newmont Corporation $NEM Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. grew its position in shares of Newmont Corporation (NYSE:NEM) by 9.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 25,931 shares of the basic materials company’s stock after purchasing an additional 2,309 shares during the quarter. First Horizon Advisors Inc.’s holdings in Newmont were worth $1,511,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Concord Wealth Partners raised its position in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew its stake in shares of Newmont by 408.2% in the 2nd 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 last quarter. Colonial Trust Advisors raised its holdings in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Financial Management Professionals Inc. raised its holdings in shares of Newmont by 274.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 444 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its stake in Newmont by 92.3% during the second quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

NEM opened at $82.55 on Friday. The firm has a market capitalization of $90.08 billion, a P/E ratio of 12.82, a PEG ratio of 0.53 and a beta of 0.33. The stock has a fifty day moving average of $82.96 and a 200-day moving average of $67.27. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $98.58.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates 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%.Newmont’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. Equities analysts forecast 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. Stockholders of record on Wednesday, November 26th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont’s dividend payout ratio is currently 15.53%.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s 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 sale, the director directly owned 34,789 shares in the company, valued at approximately $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on NEM. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. UBS Group upped their target price on Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a report on Thursday, October 16th. Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. Finally, CIBC set a $112.00 price objective on Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price 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.