AssuredPartners Investment Advisors LLC Buys Shares of 26,223 Newmont Corporation $NEM

AssuredPartners Investment Advisors LLC acquired a new stake in Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 26,223 shares of the basic materials company’s stock, valued at approximately $2,211,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares during the period. American Century Companies Inc. boosted its stake in Newmont by 15.7% during the first quarter. American Century Companies Inc. now owns 994,038 shares of the basic materials company’s stock valued at $47,992,000 after buying an additional 134,945 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Newmont by 3.2% during the first quarter. Cresset Asset Management LLC now owns 19,213 shares of the basic materials company’s stock worth $928,000 after acquiring an additional 598 shares during the period. Brooklyn Investment Group raised its position in Newmont by 19.9% in the first quarter. Brooklyn Investment Group now owns 4,975 shares of the basic materials company’s stock worth $240,000 after acquiring an additional 827 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Newmont by 1.5% in the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after acquiring an additional 191,940 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, 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 $22,768,936.82. This 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 that occurred on Monday, December 1st. The shares were 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. The trade was a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,240 shares of company stock valued at $943,985 over the last three months. 0.05% of the stock is owned by insiders.

Newmont Price Performance

NEM opened at $99.64 on Tuesday. The firm has a market capitalization of $108.73 billion, a P/E ratio of 15.47, a PEG ratio of 0.68 and a beta of 0.41. The stock has a fifty day moving average of $88.08 and a 200-day moving average of $74.57. 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 Corporation has a 12-month low of $36.86 and a 12-month high of $102.13.

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

Newmont Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NEM shares. Royal Bank Of Canada lifted their price objective 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. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Bank of America raised their price objective on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 8th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Buy” and a consensus target price of $96.37.

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.