Orion Porfolio Solutions LLC Purchases 30,189 Shares of Newmont Corporation $NEM

Orion Porfolio Solutions LLC lifted its position in Newmont Corporation (NYSE:NEM) by 160.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,040 shares of the basic materials company’s stock after acquiring an additional 30,189 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in Newmont were worth $2,857,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NEM. Concord Wealth Partners boosted its position in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares during the period. Evermay Wealth Management LLC raised its holdings in shares of Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares during the period. Country Trust Bank bought a new stake in shares of Newmont during the 2nd quarter worth approximately $32,000. CoreFirst Bank & Trust purchased a new position in Newmont during the 2nd quarter valued at $32,000. Finally, Financial Management Professionals Inc. grew its position in Newmont by 274.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 444 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,240 shares of company stock valued at $943,985 over the last quarter. Insiders own 0.05% of the company’s stock.

Newmont Stock Down 0.1%

Newmont stock opened at $99.32 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm has a market cap of $108.39 billion, a P/E ratio of 15.42, a P/E/G ratio of 0.69 and a beta of 0.41. The business has a fifty day moving average of $88.80 and a two-hundred day moving average of $75.23. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $102.13.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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 firm 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. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NEM shares. Bank of America lifted their target price on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research note on Monday. Royal Bank Of Canada boosted their price objective on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Finally, Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Buy” and an average target price of $96.37.

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.