West Family Investments Inc. Acquires New Position in Newmont Corporation $NEM

West Family Investments Inc. bought a new position in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,026 shares of the basic materials company’s stock, valued at approximately $351,000.

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

Newmont Trading Up 0.1%

Shares of NYSE:NEM opened at $90.65 on Monday. 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 Corporation has a 12-month low of $36.86 and a 12-month high of $98.58. The business has a 50 day moving average of $86.28 and a two-hundred day moving average of $71.38. The company has a market capitalization of $98.93 billion, a PE ratio of 14.08, a PEG ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the company earned $0.81 EPS. The business’s revenue was up 20.0% on a year-over-year basis. As a group, analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont’s payout ratio is presently 15.53%.

Analyst Ratings Changes

Several research analysts have recently issued reports on NEM shares. Royal Bank Of Canada raised their price objective on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Raymond James Financial set a $99.00 price objective on shares of Newmont and gave the company an “outperform” rating in a research note on Friday, October 24th. CIBC set a $112.00 price objective on shares of Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Four investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $91.20.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the transaction, the director owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. This represents a 5.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred 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 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 position. 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. Insiders own 0.05% of the company’s stock.

Newmont 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.