Newmont Corporation $NEM Shares Bought by Fulton Bank N.A.

Key Points

• Fulton Bank N.A. increased its holdings in Newmont Corporation by 52.3% in Q2, acquiring an additional 5,699 shares, bringing its total shares to 16,603 valued at approximately $967,000.
• Several institutional investors have recently increased their stakes in Newmont, with notable increases from Pacer Advisors Inc. (4,203.5%) and Caisse DE Depot ET Placement DU Quebec (1,074.8%) during the first quarter.
• Newmont announced a quarterly dividend of $0.25 per share, representing a 1.3% yield, with a payout ratio of 17.95%, to be paid on September 29th.

Fulton Bank N.A. lifted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 52.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,603 shares of the basic materials company's stock after purchasing an additional 5,699 shares during the period. Fulton Bank N.A.'s holdings in Newmont were worth $967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NEM. Brighton Jones LLC grew its stake in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after acquiring an additional 1,847 shares during the last quarter. State of Wyoming purchased a new position in shares of Newmont during the 4th quarter worth about $179,000. Vident Advisory LLC raised its holdings in Newmont by 7.3% in the fourth quarter. Vident Advisory LLC now owns 44,520 shares of the basic materials company's stock valued at $1,657,000 after buying an additional 3,031 shares during the period. Woodline Partners LP purchased a new position in Newmont in the fourth quarter valued at approximately $2,545,000. Finally, Waverly Advisors LLC raised its stake in shares of Newmont by 13.6% during the fourth quarter. Waverly Advisors LLC now owns 64,627 shares of the basic materials company's stock valued at $2,405,000 after purchasing an additional 7,744 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NEM. Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. The Goldman Sachs Group lifted their price objective on shares of Newmont from $63.10 to $77.30 and gave the company a "neutral" rating in a research note on Thursday, September 11th. BNP Paribas Exane raised their price target on shares of Newmont from $66.00 to $92.00 and gave the stock an "outperform" rating in a research report on Monday, September 15th. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Macquarie downgraded 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, nine have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $72.31.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,246 shares of company stock valued at $1,253,559 in the last ninety days. 0.05% of the stock is currently owned by corporate insiders.

Newmont Trading Up 4.3%

Shares of Newmont stock traded up $3.36 on Friday, hitting $81.68. 42,531,051 shares of the company's stock traded hands, compared to its average volume of 9,262,297. Newmont Corporation has a one year low of $36.86 and a one year high of $82.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The company has a fifty day moving average of $69.47 and a two-hundred day moving average of $58.42. The company has a market capitalization of $89.72 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the business posted $0.72 earnings per share. As a group, sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont's dividend payout ratio is 17.95%.

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.