West Family Investments Inc. Buys New Position in Newmont Corporation $NEM

West Family Investments Inc. purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,026 shares of the basic materials company’s stock, valued at approximately $351,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Envestnet Asset Management Inc. raised its position in Newmont by 176.4% during the second quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after purchasing an additional 285,897 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Newmont by 59.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after purchasing an additional 5,848 shares in the last quarter. Generate Investment Management Ltd raised its holdings in shares of Newmont by 25.9% during the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after buying an additional 77,865 shares in the last quarter. Midwest Trust Co purchased a new position in shares of Newmont during the 2nd quarter valued at about $4,424,000. Finally, Kaizen Financial Strategies bought a new stake in Newmont in the 2nd quarter worth approximately $202,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Up 0.1%

NEM opened at $90.65 on Monday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The firm’s 50 day simple moving average is $86.28 and its two-hundred day simple moving average is $71.38. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $98.93 billion, a PE ratio of 14.08, a PEG ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the business posted $0.81 EPS. Newmont’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. TD Securities increased their target price on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. National Bankshares reiterated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $71.50 to $114.00 in a research report on Thursday, October 23rd. Finally, Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $91.20.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont 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 transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the sale, the director owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 11,237 shares of company stock valued at $906,799. Company 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.