Level Four Advisory Services LLC Purchases 12,296 Shares of Newmont Corporation $NEM

Level Four Advisory Services LLC raised its holdings in shares of Newmont Corporation (NYSE:NEM) by 115.7% during the second quarter, Holdings Channel reports. The fund owned 22,923 shares of the basic materials company’s stock after buying an additional 12,296 shares during the period. Level Four Advisory Services LLC’s holdings in Newmont were worth $1,336,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NEM. Nuveen LLC purchased a new stake in shares of Newmont in the 1st quarter valued at $306,507,000. Boston Partners raised its position in Newmont by 4,090.7% in the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after purchasing an additional 4,532,263 shares during the period. Assenagon Asset Management S.A. lifted its stake in Newmont by 1,502.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after purchasing an additional 4,399,778 shares during the last quarter. LSV Asset Management purchased a new stake in Newmont during the second quarter valued at about $187,206,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Newmont by 1,074.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock valued at $116,416,000 after buying an additional 2,206,017 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

NEM opened at $90.65 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The stock has a market capitalization of $98.93 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The stock’s 50 day moving average price is $86.28 and its 200-day moving average price is $71.22. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58.

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

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s payout ratio is presently 15.53%.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,237 shares of company stock worth $906,799 in the last quarter. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Raymond James Financial set a $99.00 target price on shares of Newmont and gave the stock an “outperform” rating in a report on Friday, October 24th. CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, The Goldman Sachs Group set a $104.30 price target on shares of Newmont and gave the company a “buy” rating in a research report on Sunday, October 12th. Four analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $91.20.

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.