Laurel Wealth Advisors LLC Has $1.02 Million Holdings in Newmont Corporation $NEM

Laurel Wealth Advisors LLC boosted its position in shares of Newmont Corporation (NYSE:NEM) by 5,726.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,478 shares of the basic materials company’s stock after buying an additional 17,178 shares during the period. Laurel Wealth Advisors LLC’s holdings in Newmont were worth $1,018,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NEM. Nuveen LLC acquired a new stake in shares of Newmont during the 1st quarter worth approximately $306,507,000. Boston Partners boosted its holdings in shares of Newmont by 4,081.8% in the 2nd quarter. Boston Partners now owns 4,633,175 shares of the basic materials company’s stock valued at $271,982,000 after purchasing an additional 4,522,381 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Newmont by 1,502.5% in the 2nd 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 purchasing an additional 4,399,778 shares during the last quarter. LSV Asset Management acquired a new position in shares of Newmont during the 2nd quarter worth $187,206,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Newmont by 1,074.8% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock worth $116,416,000 after buying an additional 2,206,017 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the sale, the director owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This trade represents a 5.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,237 shares of company stock valued at $906,799 in the last ninety days. 0.05% of the stock is currently owned by insiders.

Newmont Price Performance

Newmont stock opened at $90.65 on Friday. The stock’s 50 day moving average is $86.28 and its 200 day moving average is $71.08. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The firm has a market cap of $98.93 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.53 and a beta of 0.33. 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 issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.81 EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

Analysts Set New Price Targets

NEM has been the topic of a number of recent analyst reports. Raymond James Financial set a $99.00 target price on Newmont and gave the company an “outperform” rating in a research report on Friday, October 24th. National Bankshares reissued an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. Bank of America upped their target price on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $71.50 to $114.00 in a report on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $91.20.

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.