8,070 Shares in Newmont Corporation $NEM Acquired by AdvisorShares Investments LLC

AdvisorShares Investments LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,070 shares of the basic materials company’s stock, valued at approximately $470,000.

A number of other institutional investors have also recently bought and sold shares of NEM. Nuveen LLC bought a new position in Newmont in the first quarter valued at approximately $306,507,000. Pacer Advisors Inc. lifted its stake in Newmont by 4,203.5% in the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock valued at $259,580,000 after buying an additional 5,251,616 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Newmont by 1,502.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after buying an additional 4,399,778 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Newmont by 1,074.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock valued at $116,416,000 after buying an additional 2,206,017 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Newmont by 2,003.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock valued at $92,119,000 after buying an additional 1,506,010 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director owned 36,869 shares in the company, valued at $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 11,172 shares of company stock worth $808,863. Corporate insiders own 0.05% of the company’s stock.

Newmont Price Performance

NYSE:NEM opened at $82.32 on Friday. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The company has a market cap of $89.83 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.53 and a beta of 0.34. The firm’s fifty day moving average price is $82.05 and its two-hundred day moving average price is $66.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Newmont (NYSE:NEM) last released 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 net margin of 33.42% and a return on equity of 20.35%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. Equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research reports. Wall Street Zen raised shares of Newmont from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. UBS Group boosted their price objective on shares of Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, BNP Paribas Exane increased their price objective on Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Five equities 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Buy” and an average target price of $86.92.

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.