Empower Advisory Group LLC Sells 15,337 Shares of Newmont Corporation $NEM

Empower Advisory Group LLC reduced its holdings in shares of Newmont Corporation (NYSE:NEM) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,847,395 shares of the basic materials company’s stock after selling 15,337 shares during the quarter. Empower Advisory Group LLC’s holdings in Newmont were worth $107,629,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NEM. Northern Trust Corp lifted its position in shares of Newmont by 1.5% during the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock worth $624,458,000 after acquiring an additional 191,940 shares in the last quarter. Amundi raised its stake in shares of Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after purchasing an additional 343,535 shares during the period. Invesco Ltd. lifted its holdings in Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock worth $518,936,000 after purchasing an additional 228,116 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock worth $423,572,000 after purchasing an additional 1,201,237 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Newmont by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,901,244 shares of the basic materials company’s stock worth $333,192,000 after purchasing an additional 50,840 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NEM shares. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Royal Bank Of Canada boosted their price objective on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. National Bankshares restated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Finally, Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $88.99.

Newmont Trading Down 2.2%

Shares of Newmont stock opened at $87.74 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. 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 $95.75 billion, a PE ratio of 13.62, a PEG ratio of 0.53 and a beta of 0.33. The company has a 50 day simple moving average of $84.58 and a two-hundred day simple moving average of $68.69.

Newmont (NYSE:NEM) last issued its quarterly earnings results 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 firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. Analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s 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 completion of the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the transaction, the director owned 34,789 shares in the company, valued at $2,816,517.44. The trade was a 5.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,237 shares of company stock worth $906,799 over the last quarter. Corporate 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.