Fulton Bank N.A. Purchases 5,699 Shares of Newmont Corporation $NEM

Fulton Bank N.A. increased its position in Newmont Corporation (NYSE:NEM) by 52.3% during the second quarter, Holdings Channel.com reports. The firm owned 16,603 shares of the basic materials company’s stock after buying an additional 5,699 shares during the quarter. Fulton Bank N.A.’s holdings in Newmont were worth $967,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Newmont by 11.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 212,357 shares of the basic materials company’s stock worth $12,720,000 after purchasing an additional 22,288 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of Newmont by 376.3% in the 2nd quarter. Wedmont Private Capital now owns 55,312 shares of the basic materials company’s stock worth $3,250,000 after purchasing an additional 43,699 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in shares of Newmont by 16.3% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 24,521 shares of the basic materials company’s stock worth $1,366,000 after purchasing an additional 3,444 shares in the last quarter. Lake Hills Wealth Management LLC bought a new position in shares of Newmont in the 2nd quarter worth $417,000. Finally, Sivia Capital Partners LLC bought a new position in shares of Newmont in the 2nd quarter worth $240,000. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the sale, the director directly owned 38,949 shares of the company’s stock, valued at approximately $2,905,205.91. This trade represents a 5.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,246 shares of company stock valued at $1,253,559 in the last ninety days. 0.05% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent analyst reports. Scotiabank raised their price objective on Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a research note on Monday, July 28th. National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. BNP Paribas Exane raised their price objective on Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday. The Goldman Sachs Group raised their price objective on Newmont from $63.10 to $77.30 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Finally, CIBC raised their price objective on Newmont from $74.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, September 12th. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $70.59.

Newmont Trading Down 0.5%

Shares of Newmont stock opened at $78.29 on Friday. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $80.07. The firm has a market cap of $86.00 billion, a PE ratio of 14.06, a P/E/G ratio of 0.92 and a beta of 0.34. The stock has a fifty day moving average price of $69.04 and a 200-day moving average price of $58.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $0.72 EPS. The business’s revenue 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 year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

Newmont 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.