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

First Trust Advisors LP raised its holdings in Newmont Corporation (NYSE:NEM) by 140.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 655,722 shares of the basic materials company’s stock after purchasing an additional 383,042 shares during the quarter. First Trust Advisors LP’s holdings in Newmont were worth $38,202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hemington Wealth Management increased its holdings in shares of Newmont by 17.6% during the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 170 shares during the last quarter. IVC Wealth Advisors LLC boosted its position in Newmont by 1.3% during the second quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after purchasing an additional 173 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Newmont by 11.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 185 shares during the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Newmont by 4.4% in the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock valued at $260,000 after purchasing an additional 190 shares during the period. Finally, Chelsea Counsel Co. lifted its stake in shares of Newmont by 1.0% during the 2nd quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock worth $1,067,000 after buying an additional 190 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. 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 90 days. Corporate insiders own 0.05% of the company’s stock.

Newmont Stock Up 5.8%

NEM stock opened at $94.15 on Wednesday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58. The business has a 50-day simple moving average of $87.20 and a 200 day simple moving average of $73.31. 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 $102.74 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. Sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is 15.53%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NEM. Bank of America upped their price target on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Royal Bank Of Canada upped their target price on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $71.50 to $114.00 in a report on Thursday, October 23rd. UBS Group boosted their price target on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, BNP Paribas Exane lowered Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price objective on the stock. in a report on Friday, December 5th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target 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.