Newmont Corporation $NEM Shares Bought by Financiere des Professionnels Fonds d investissement inc.

by · The Markets Daily

Financiere des Professionnels Fonds d investissement inc. lifted its stake in shares of Newmont Corporation (NYSE:NEMFree Report) by 76.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,200 shares of the basic materials company’s stock after acquiring an additional 32,191 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Newmont were worth $6,256,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Concord Wealth Partners lifted its holdings in shares of 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 buying an additional 385 shares during the period. Evermay Wealth Management LLC boosted its holdings in Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares in the last quarter. Capital A Wealth Management LLC lifted its position in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 478 shares during the last quarter. Caldwell Trust Co acquired a new stake in shares of Newmont during the second quarter worth $31,000. Finally, Country Trust Bank acquired a new stake in Newmont during the 2nd quarter worth about $32,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on NEM shares. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. National Bankshares upped their price target on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Raymond James Financial reaffirmed an “outperform” rating and set a $111.00 target price on shares of Newmont in a research note on Monday. Finally, Macquarie upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Buy” and a consensus price target of $97.08.

Read Our Latest Stock Report on Newmont

Newmont Price Performance

NEM opened at $101.23 on Friday. The stock has a fifty day moving average price of $91.62 and a 200 day moving average price of $78.88. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 1 year low of $37.68 and a 1 year high of $106.34. The stock has a market cap of $110.46 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.60 and a beta of 0.41.

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

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the transaction, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 9,160 shares of company stock worth $767,206. 0.05% of the stock is currently owned by company insiders.

About Newmont

(Free Report)

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.

See Also

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