ABN Amro Investment Solutions Invests $1.64 Million in Newmont Corporation $NEM

ABN Amro Investment Solutions purchased a new stake in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 28,178 shares of the basic materials company’s stock, valued at approximately $1,642,000.

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in Newmont by 15.7% during the fourth 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. CWM LLC increased its holdings in Newmont by 12.7% in the first quarter. CWM LLC now owns 18,670 shares of the basic materials company’s stock valued at $901,000 after buying an additional 2,103 shares in the last quarter. Sigma Planning Corp acquired a new position in shares of Newmont in the first quarter worth about $211,000. Apollon Wealth Management LLC boosted its stake in shares of Newmont by 37.6% during the 1st quarter. Apollon Wealth Management LLC now owns 10,973 shares of the basic materials company’s stock worth $530,000 after acquiring an additional 2,997 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Newmont by 22.0% during the 1st quarter. Larson Financial Group LLC now owns 3,866 shares of the basic materials company’s stock valued at $187,000 after acquiring an additional 696 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the 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 completion of the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade 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 can be accessed through this link. 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 transaction, the director directly owned 34,789 shares in the company, valued at $2,816,517.44. This trade represents a 5.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is owned by insiders.

Newmont Stock Down 2.2%

NYSE NEM opened at $87.74 on Friday. The business has a fifty day moving average price of $84.58 and a 200 day moving average price of $68.69. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The company has a market cap of $95.75 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.53 and a beta of 0.33. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.44. The company 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 firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 EPS. Research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

NEM has been the subject of a number of analyst reports. TD Securities upped their price target on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Finally, Raymond James Financial set a $99.00 price objective on shares of Newmont and gave the stock an “outperform” rating in a research report on Friday, October 24th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $88.99.

About Newmont

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.