Level Four Advisory Services LLC Grows Stake in Newmont Corporation $NEM

Level Four Advisory Services LLC lifted its stake in shares of Newmont Corporation (NYSE:NEM) by 115.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,923 shares of the basic materials company’s stock after purchasing 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 quarter.

Other hedge funds also recently modified their holdings of the company. Concord Wealth Partners increased its position in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares during the last quarter. Evermay Wealth Management LLC grew its stake in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares during the period. Country Trust Bank purchased a new stake in Newmont in the 2nd quarter worth about $32,000. Colonial Trust Advisors raised its stake in Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 429 shares during the period. Finally, Financial Management Professionals Inc. raised its stake in Newmont by 274.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 444 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were 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 in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The transaction 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 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 directly owned 34,789 shares in the company, valued at $2,816,517.44. This represents a 5.64% decrease in their ownership of the stock. 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 three months. 0.05% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. National Bankshares reiterated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. CIBC set a $112.00 price objective on shares of Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Citigroup increased their target price on Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group set a $104.30 price target on Newmont and gave the company a “buy” rating in a research report on Sunday, October 12th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $91.20.

Newmont Stock Up 0.1%

NEM opened at $90.65 on Friday. The company has a fifty day moving average price of $86.28 and a 200-day moving average price of $71.22. The firm has a market capitalization of $98.93 billion, a P/E ratio of 14.08, a price-to-earnings-growth 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 Corporation has a one year low of $36.86 and a one year high of $98.58.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. Equities research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders 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 is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is 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.