8,178 Shares in Newmont Corporation $NEM Purchased by Lifeworks Advisors LLC

Lifeworks Advisors LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,178 shares of the basic materials company’s stock, valued at approximately $476,000.

Other large investors have also made changes to their positions in the company. Concord Wealth Partners lifted its position in shares of Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC lifted its position in shares of 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 during the last quarter. Cloud Capital Management LLC acquired a new position in shares of Newmont during the 1st quarter worth about $26,000. Colonial Trust Advisors lifted its position in shares of Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its position in shares of Newmont by 274.1% during the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 444 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. TD Securities boosted their price objective on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. UBS Group boosted their price target on Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a research note on Thursday, October 16th. Citigroup boosted their price target on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Bank of America boosted their price target on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, BNP Paribas lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $86.92.

Newmont Trading Down 1.8%

NEM stock opened at $80.85 on Friday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The firm has a market cap of $88.23 billion, a P/E ratio of 12.55, a P/E/G ratio of 0.53 and a beta of 0.34. The business’s 50 day moving average is $82.25 and its 200-day moving average is $66.63. 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 released its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the company posted $0.81 EPS. The company’s revenue was up 20.0% compared to the same quarter last year. Equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio is currently 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 Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 11,172 shares of company stock worth $808,863. Corporate insiders own 0.05% of the company’s stock.

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.