First Horizon Advisors Inc. Has $1.51 Million Stake in Newmont Corporation $NEM

First Horizon Advisors Inc. lifted its position in Newmont Corporation (NYSE:NEM) by 9.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 25,931 shares of the basic materials company’s stock after buying an additional 2,309 shares during the quarter. First Horizon Advisors Inc.’s holdings in Newmont were worth $1,511,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hemington Wealth Management lifted its stake in Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after acquiring an additional 170 shares during the last quarter. IVC Wealth Advisors LLC raised its holdings in shares of Newmont by 1.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock valued at $813,000 after purchasing an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Newmont by 11.9% in the 2nd 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 boosted its holdings in Newmont by 4.4% in the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock worth $260,000 after purchasing an additional 190 shares in the last quarter. Finally, Chelsea Counsel Co. increased its position in Newmont by 1.0% during the second 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. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NEM. TD Securities boosted their price target 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 target price on Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Citigroup increased their price target on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. BNP Paribas Exane boosted their price objective on shares of Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Finally, Cibc World Mkts upgraded shares of 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, fourteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $86.92.

Newmont Stock Up 1.1%

Shares of NEM stock opened at $82.55 on Friday. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58. 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 firm has a market cap of $90.08 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The stock has a 50 day moving average of $82.96 and a 200-day moving average of $67.27.

Newmont (NYSE:NEM) last announced its 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. The business 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%. Newmont’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 earnings per share. On average, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont’s dividend payout ratio is currently 15.53%.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the sale, the director owned 34,789 shares in the company, valued at approximately $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is owned by corporate insiders.

Newmont Company 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.