Focus Partners Advisor Solutions LLC Purchases 4,662 Shares of Newmont Corporation $NEM

Focus Partners Advisor Solutions LLC increased its holdings in Newmont Corporation (NYSE:NEM) by 37.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,180 shares of the basic materials company’s stock after purchasing an additional 4,662 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Newmont were worth $1,001,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in NEM. Cloud Capital Management LLC purchased a new position in Newmont in the 1st quarter worth $26,000. Colonial Trust Advisors raised 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 worth $27,000 after purchasing an additional 429 shares during the period. Concord Wealth Partners raised 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 worth $27,000 after purchasing an additional 385 shares during the period. Evermay Wealth Management LLC raised its position in Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the period. Finally, Private Trust Co. NA raised 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 worth $30,000 after purchasing an additional 347 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the business’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 sale, the director owned 36,869 shares of the company’s stock, valued at $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Brian Tabolt sold 7,015 shares of the business’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 sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock valued at $1,132,065 over the last quarter. Corporate insiders own 0.05% of the company’s stock.

Newmont Trading Down 6.0%

Shares of NEM opened at $78.38 on Tuesday. The firm’s 50-day moving average price is $81.35 and its 200-day moving average price is $65.88. The firm has a market capitalization of $86.09 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.56 and a beta of 0.34. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 EPS. Sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.3%. Newmont’s payout ratio is presently 15.53%.

Analyst Ratings Changes

A number of equities analysts recently commented on NEM shares. Bank of America lifted their target price on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. UBS Group boosted their price objective on shares of Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a research report on Thursday, October 16th. Citigroup boosted their price objective on shares of Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Stifel Nicolaus started coverage on shares of Newmont in a research report on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price objective on the stock. Finally, Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Newmont has a consensus rating of “Buy” and a consensus target price of $86.92.

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.