First Horizon Corp Purchases Shares of 25,073 Newmont Corporation $NEM

First Horizon Corp acquired a new stake in shares of Newmont Corporation (NYSE:NEM) in the third quarter, Holdings Channel.com reports. The firm acquired 25,073 shares of the basic materials company’s stock, valued at approximately $2,114,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Newmont during the second quarter valued at approximately $919,170,000. Invesco Ltd. increased its holdings in shares of Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after purchasing an additional 4,839,447 shares in the last quarter. Boston Partners lifted its stake in shares of Newmont by 4,090.7% in the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock valued at $272,558,000 after purchasing an additional 4,532,263 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Newmont by 1,502.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after purchasing an additional 4,399,778 shares during the period. Finally, LSV Asset Management purchased a new stake in Newmont during the second quarter worth $187,206,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,160 shares of company stock valued at $767,206 over the last quarter. Company insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. Argus boosted their price objective on Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Finally, Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Five 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $97.08.

Newmont Price Performance

NYSE:NEM opened at $112.89 on Tuesday. The stock has a 50 day moving average of $94.97 and a two-hundred day moving average of $81.26. Newmont Corporation has a 12 month low of $38.53 and a 12 month high of $113.72. The firm has a market cap of $123.20 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 0.80 and a beta of 0.41. The company has a current ratio of 2.04, a quick ratio of 1.74 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, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.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 company posted $0.81 earnings per share. The business’s revenue was up 20.0% on a year-over-year basis. On average, analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio is presently 15.53%.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.