FLC Capital Advisors Invests $205,000 in Newmont Corporation $NEM

FLC Capital Advisors purchased a new position in Newmont Corporation (NYSE:NEM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,513 shares of the basic materials company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEM. Cloud Capital Management LLC bought a new position in Newmont in the 1st quarter valued at approximately $26,000. Colonial Trust Advisors lifted its position in Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 429 shares in the last quarter. Concord Wealth Partners lifted its position in Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares in the last quarter. Private Trust Co. NA lifted its position in Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 347 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in Newmont in the 1st quarter valued at approximately $32,000. 68.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the topic of several research analyst reports. BNP Paribas cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Stifel Canada raised Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Finally, Raymond James Financial set a $96.00 price target on Newmont in a report on Friday, October 10th. Four research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $87.59.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the sale, the director owned 36,869 shares of the company’s stock, valued at $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the firm’s 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 completion of the sale, the chief accounting officer directly 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 a total of 16,249 shares of company stock valued at $1,132,065 over the last 90 days. Insiders own 0.05% of the company’s stock.

Newmont Trading Up 4.6%

NYSE:NEM opened at $94.92 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The firm has a market capitalization of $104.27 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 0.63 and a beta of 0.34. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The business has a fifty day moving average price of $79.76 and a 200-day moving average price of $64.54.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the business posted $0.72 EPS. Newmont’s revenue was up 20.8% on a year-over-year basis. Sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

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.