Intrua Financial LLC Invests $297,000 in Newmont Corporation $NEM

Intrua Financial LLC bought a new stake in Newmont Corporation (NYSE:NEM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,098 shares of the basic materials company’s stock, valued at approximately $297,000.

Other large investors also recently bought and sold shares of the company. Colonial Trust Advisors grew its stake in shares of Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after buying an additional 429 shares during the period. Concord Wealth Partners boosted its holdings in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares during the last quarter. Evermay Wealth Management LLC boosted its holdings in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 400 shares during the last quarter. TCTC Holdings LLC grew its position in Newmont by 123.1% during the first quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 362 shares during the period. Finally, Dagco Inc. acquired a new stake in Newmont during the first quarter worth about $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of several research analyst reports. Citigroup lifted their price objective on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. BNP Paribas downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Finally, CIBC set a $112.00 target price on shares of Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Newmont has an average rating of “Buy” and a consensus target price of $88.99.

Newmont Stock Down 2.2%

Shares of NYSE:NEM opened at $87.74 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58. The company has a 50 day moving average of $84.58 and a two-hundred day moving average of $68.80. The company has a market capitalization of $95.75 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last posted its 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 business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 earnings per share. As a group, analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Insider Activity

In other news, 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 transaction of $168,396.80. Following the sale, the director directly owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. The trade was a 5.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s 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 completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,237 shares of company stock valued at $906,799 over the last 90 days. Insiders own 0.05% of the company’s stock.

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.