Vise Technologies Inc. Invests $1.79 Million in Newmont Corporation $NEM

Vise Technologies Inc. acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 30,768 shares of the basic materials company’s stock, valued at approximately $1,793,000.

Several other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares in the last quarter. Allworth Financial LP raised its stake in Newmont by 25.7% in the 1st quarter. Allworth Financial LP now owns 6,037 shares of the basic materials company’s stock valued at $291,000 after acquiring an additional 1,234 shares during the period. Schechter Investment Advisors LLC acquired a new stake in shares of Newmont during the 1st quarter worth about $218,000. CWM LLC boosted its holdings in shares of Newmont by 12.7% during the first quarter. CWM LLC now owns 18,670 shares of the basic materials company’s stock worth $901,000 after acquiring an additional 2,103 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in Newmont by 28.2% in the 1st quarter. Bleakley Financial Group LLC now owns 18,986 shares of the basic materials company’s stock valued at $917,000 after purchasing an additional 4,179 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on 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 owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the transaction, the director directly owned 34,789 shares in the company, valued at approximately $2,816,517.44. This represents a 5.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 11,237 shares of company stock worth $906,799. Insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent research reports. CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. Macquarie lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $71.50 to $114.00 in a research report on Thursday, October 23rd. Weiss Ratings lowered shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Finally, Raymond James Financial set a $99.00 target price on Newmont and gave the company an “outperform” rating in a report on Friday, October 24th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average target price of $88.99.

Newmont Stock Performance

NYSE NEM opened at $89.94 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $83.70 and a 200 day simple moving average of $68.14. The company has a market cap of $98.15 billion, a P/E ratio of 13.97, a PEG ratio of 0.53 and a beta of 0.33. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $98.58.

Newmont (NYSE:NEM) last posted its 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 company 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 firm’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 EPS. Sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be given a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is presently 15.53%.

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.