Fifth Third Wealth Advisors LLC Boosts Holdings in Newmont Corporation $NEM

Fifth Third Wealth Advisors LLC boosted its holdings in shares of Newmont Corporation (NYSE:NEM) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,540 shares of the basic materials company’s stock after purchasing an additional 511 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Newmont were worth $731,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new position in Newmont during the 1st quarter worth $26,000. Colonial Trust Advisors grew its position in Newmont by 315.4% during 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 during the last quarter. Private Trust Co. NA grew its position in Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 347 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in Newmont during the 1st quarter worth $32,000. Finally, TCTC Holdings LLC grew its position in Newmont by 123.1% during the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 362 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Down 0.2%

Shares of NYSE NEM opened at $85.07 on Monday. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $89.37. The firm has a 50-day moving average price of $76.77 and a 200 day moving average price of $62.65. The stock has a market capitalization of $93.45 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 0.94 and a beta of 0.34.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the business earned $0.72 earnings per share. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. Equities research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont’s dividend payout ratio (DPR) is 17.95%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Raymond James Financial set a $96.00 price objective on shares of Newmont in a research report on Friday. Stifel Nicolaus started coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a “buy” rating and a $73.00 target price on the stock. UBS Group lifted their target price on shares of Newmont from $70.00 to $92.00 and gave the company a “buy” rating in a report on Friday, September 19th. The Goldman Sachs Group set a $104.30 target price on shares of Newmont in a report on Sunday. Finally, National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.18.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont 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 approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock worth $1,132,065 over the last 90 days. Company insiders own 0.05% of the company’s stock.

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.