First Trust Advisors LP Has $38.20 Million Stock Position in Newmont Corporation $NEM

First Trust Advisors LP increased its stake in shares of Newmont Corporation (NYSE:NEM) by 140.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 655,722 shares of the basic materials company’s stock after purchasing an additional 383,042 shares during the period. First Trust Advisors LP owned approximately 0.06% of Newmont worth $38,202,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Colonial Trust Advisors boosted its holdings in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after buying an additional 429 shares during the last quarter. Concord Wealth Partners raised its position in shares of Newmont by 534.7% in the 2nd 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 period. Evermay Wealth Management LLC boosted its stake 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 acquiring an additional 400 shares during the last quarter. Dagco Inc. acquired a new position in Newmont during the first quarter valued at approximately $32,000. Finally, Country Trust Bank acquired a new position in Newmont during the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $94.15 on Wednesday. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58. The company’s fifty day simple moving average is $87.20 and its 200-day simple moving average is $73.31. The firm has a market cap of $102.74 billion, a PE ratio of 14.62, a P/E/G ratio of 0.62 and a beta of 0.41. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last issued 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. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the business earned $0.81 EPS. The company’s revenue was up 20.0% compared to the same quarter last year. Equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

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

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the 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 completion of the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,240 shares of company stock valued at $943,985 over the last three months. Insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NEM shares. Citigroup lifted their price target on shares of Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Royal Bank Of Canada boosted their target price on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. BNP Paribas downgraded Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target for the company. in a report on Friday. Finally, UBS Group lifted their price objective on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a report on Monday, December 1st. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Newmont currently has an average rating of “Buy” and an average price target of $96.37.

Newmont 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.