Fox Run Management L.L.C. Has $1.27 Million Stock Holdings in Newmont Corporation $NEM

Key Points

• Fox Run Management L.L.C. increased its stake in Newmont Corporation by 55.2%, acquiring an additional 9,338 shares, bringing its total holdings to 26,258 shares worth $1,268,000.
• Multiple hedge funds have also adjusted their positions in Newmont, with increases from firms like Bessemer Group and First Trust Advisors, contributing to institutional investors owning 68.85% of the stock.
• Newmont announced a quarterly dividend of $0.25, with an upcoming yield of 1.5%, expected to be issued on September 29th to investors of record on September 4th.

Fox Run Management L.L.C. lifted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 55.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,258 shares of the basic materials company's stock after acquiring an additional 9,338 shares during the quarter. Fox Run Management L.L.C.'s holdings in Newmont were worth $1,268,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. SOA Wealth Advisors LLC. grew its position in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares during the last quarter. Cloud Capital Management LLC acquired a new position in Newmont in the first quarter worth approximately $26,000. Private Trust Co. NA grew its position in Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after buying an additional 347 shares during the last quarter. Nexus Investment Management ULC acquired a new position in Newmont in the first quarter worth approximately $31,000. Finally, TCTC Holdings LLC grew its position in Newmont by 123.1% in the first quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company's stock worth $32,000 after buying an additional 362 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $132,221.82. Following the completion of the transaction, the director owned 41,026 shares of the company's stock, valued at approximately $2,611,715.16. This represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president directly owned 77,526 shares of the company's stock, valued at $4,193,381.34. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,246 shares of company stock valued at $1,373,251. Insiders own 0.05% of the company's stock.

Newmont Stock Down 2.5%

Shares of NEM stock traded down $1.7150 on Tuesday, hitting $67.2850. The company's stock had a trading volume of 5,599,278 shares, compared to its average volume of 11,871,664. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $70.29. The firm's fifty day moving average price is $61.31 and its 200-day moving average price is $53.44. The stock has a market capitalization of $73.91 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 0.82 and a beta of 0.30.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business's revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. Research analysts anticipate 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, September 29th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. Newmont's dividend payout ratio is currently 17.95%.

Analyst Ratings Changes

Several research firms have issued reports on NEM. CIBC set a $74.00 price target on shares of Newmont and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. UBS Group lifted their price objective on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $64.58.

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.