Vestmark Advisory Solutions Inc. Acquires Shares of 33,015 Newmont Corporation $NEM

Vestmark Advisory Solutions Inc. bought a new position in Newmont Corporation (NYSE:NEM) during the second quarter, Holdings Channel.com reports. The fund bought 33,015 shares of the basic materials company’s stock, valued at approximately $1,923,000.

A number of other institutional investors have also modified their holdings of NEM. Hemington Wealth Management boosted its holdings in shares of Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 170 shares during the period. IVC Wealth Advisors LLC increased its holdings in Newmont by 1.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after purchasing an additional 173 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in Newmont by 11.9% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 185 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in shares of Newmont by 4.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock worth $260,000 after buying an additional 190 shares during the period. Finally, Chelsea Counsel Co. grew its position in shares of Newmont by 1.0% during the 2nd quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock worth $1,067,000 after buying an additional 190 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the sale, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,237 shares of company stock valued at $906,799 in the last 90 days. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Up 1.0%

Newmont stock opened at $83.39 on Monday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The business has a fifty day moving average price of $83.14 and a 200-day moving average price of $67.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The stock has a market capitalization of $91.00 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion for 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 company’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 earnings per share. Equities research analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio is presently 15.53%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NEM. Royal Bank Of Canada lifted their price objective on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. The Goldman Sachs Group set a $104.30 price target on shares of Newmont and gave the company a “buy” rating in a report on Sunday, October 12th. Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. Five analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $86.92.

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.