Bank Julius Baer & Co. Ltd Zurich Increases Stock Position in Newmont Corporation $NEM

Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Newmont Corporation (NYSE:NEM) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,735 shares of the basic materials company’s stock after purchasing an additional 5,752 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Newmont were worth $3,422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Colonial Trust Advisors raised its holdings in shares of Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 429 shares during the last quarter. Concord Wealth Partners boosted its stake in shares of Newmont by 534.7% during 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 increased its position in 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 purchasing an additional 400 shares in the last quarter. TCTC Holdings LLC raised its stake in Newmont by 123.1% in the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 362 shares during the last quarter. Finally, Dagco Inc. purchased a new position in Newmont in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 1.7%

NEM stock opened at $83.38 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. The company has a market cap of $90.99 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.53 and a beta of 0.33. The business has a fifty day simple moving average of $85.33 and a 200-day simple moving average of $69.84. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion during 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 quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. On average, equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors 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 yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio is 15.53%.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total value of $168,396.80. Following the transaction, the director owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. This trade represents a 5.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,237 shares of company stock worth $906,799 in the last 90 days. 0.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NEM. The Goldman Sachs Group set a $104.30 price target on shares of Newmont and gave the stock a “buy” rating in a report on Sunday, October 12th. Royal Bank Of Canada lifted their target price on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. TD Securities lifted their price objective on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Finally, Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Newmont has an average rating of “Moderate 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.