Fulcrum Asset Management LLP Acquires 19,803 Shares of Newmont Corporation $NEM

Fulcrum Asset Management LLP boosted its holdings in Newmont Corporation (NYSE:NEM) by 523.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,584 shares of the basic materials company’s stock after purchasing an additional 19,803 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Newmont were worth $2,229,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Glenview Trust Co acquired a new position in shares of Newmont during the 2nd quarter worth approximately $247,000. Empowered Funds LLC raised its position in shares of Newmont by 4.6% in the second quarter. Empowered Funds LLC now owns 578,679 shares of the basic materials company’s stock valued at $54,049,000 after buying an additional 25,501 shares in the last quarter. Dearborn Partners LLC bought a new stake in shares of Newmont in the second quarter valued at approximately $379,000. Equitable Holdings Inc. boosted its stake in shares of Newmont by 22.8% in the second quarter. Equitable Holdings Inc. now owns 44,892 shares of the basic materials company’s stock valued at $4,193,000 after buying an additional 8,348 shares during the period. Finally, Jefferies Financial Group Inc. grew its position in Newmont by 178.2% during the second quarter. Jefferies Financial Group Inc. now owns 33,298 shares of the basic materials company’s stock worth $3,110,000 after buying an additional 21,330 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 3.4%

NYSE NEM opened at $127.84 on Friday. The business has a fifty day moving average price of $104.23 and a two-hundred day moving average price of $109.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. Newmont Corporation has a fifty-two week low of $72.78 and a fifty-two week high of $135.29. The stock has a market capitalization of $134.70 billion, a PE ratio of 16.14, a PEG ratio of 1.36 and a beta of 0.47.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter last year, the company posted $1.43 EPS. Equities analysts expect that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 0.8%. Newmont’s dividend payout ratio (DPR) is 13.13%.

Insider Buying and Selling at Newmont

In other news, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the sale, the chief financial officer directly owned 29,324 shares in the company, valued at $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,091 shares of company stock worth $3,292,513 over the last 90 days. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on NEM. UBS Group lowered their price objective on Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. National Bank Financial cut their target price on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. BNP Paribas Exane decreased their price target on Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Wall Street Zen cut Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, TD boosted their price target on Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.73.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.