Fulcrum Asset Management LLP Purchases 19,803 Shares of Newmont Corporation $NEM

Fulcrum Asset Management LLP grew its position in shares of Newmont Corporation (NYSE:NEM) by 523.8% during the second quarter, HoldingsChannel.com reports. The firm owned 23,584 shares of the basic materials company’s stock after purchasing an additional 19,803 shares during the period. Fulcrum Asset Management LLP’s holdings in Newmont were worth $2,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. Parkside Financial Bank & Trust raised its holdings in Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after buying an additional 96 shares during the last quarter. Coston McIsaac & Partners grew its holdings in Newmont by 28.6% during the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 100 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in Newmont by 6.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company’s stock valued at $164,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. increased its position in Newmont by 0.6% in the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after acquiring an additional 100 shares during the period. Finally, Townsquare Capital LLC raised its stake in shares of Newmont by 4.2% during the fourth quarter. Townsquare Capital LLC now owns 2,523 shares of the basic materials company’s stock valued at $252,000 after acquiring an additional 102 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BNP Paribas Exane cut their price target on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. TD increased their price objective on Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Bank of America lowered their target price on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Barclays cut their target price on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. Finally, The Goldman Sachs Group reduced their price target on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.73.

Newmont Stock Down 3.4%

Shares of NYSE NEM opened at $127.84 on Friday. The company’s 50 day moving average price is $104.23 and its 200-day moving average price is $109.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a 52-week low of $72.78 and a 52-week high of $135.29. The company has a market capitalization of $134.70 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the prior year, the company posted $1.43 earnings per share. Equities analysts forecast that Newmont Corporation will post 9.01 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president owned 40,315 shares in the company, valued at $3,767,436.75. This represents a 6.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the sale, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This represents a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 32,091 shares of company stock worth $3,292,513. Company insiders own 0.06% of the company’s stock.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long?lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.