Verus Capital Partners LLC Buys Shares of 4,913 Newmont Corporation $NEM

Verus Capital Partners LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 4,913 shares of the basic materials company’s stock, valued at approximately $414,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Harbor Capital Advisors Inc. boosted its stake in Newmont by 53.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 139 shares during the last quarter. HHM Wealth Advisors LLC raised its holdings in Newmont by 26.4% in the third quarter. HHM Wealth Advisors LLC now owns 670 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 140 shares during the period. Fielder Capital Group LLC raised its holdings in Newmont by 1.7% in the third quarter. Fielder Capital Group LLC now owns 8,390 shares of the basic materials company’s stock worth $707,000 after purchasing an additional 141 shares during the period. Summit Financial Wealth Advisors LLC boosted its position in shares of Newmont by 2.3% during the third quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock worth $566,000 after purchasing an additional 145 shares in the last quarter. Finally, Welch Group LLC grew its holdings in shares of Newmont by 1.3% in the 3rd quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock valued at $1,027,000 after buying an additional 153 shares during the period. 68.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on NEM. Jefferies Financial Group raised their price objective on Newmont from $136.00 to $158.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. National Bank Financial increased their price target on Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. DZ Bank raised Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Scotiabank lifted their price objective on Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, Stifel Nicolaus boosted their price objective on Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.88.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is owned by corporate insiders.

Newmont Price Performance

NEM stock opened at $123.93 on Wednesday. The stock has a 50-day moving average price of $114.13 and a two-hundred day moving average price of $94.10. Newmont Corporation has a 1 year low of $41.23 and a 1 year high of $134.88. The stock has a market cap of $134.82 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.05 and a beta of 0.40. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.71. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Newmont had a return on equity of 23.28% and a net margin of 31.25%.Newmont’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. Equities analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be given a dividend of $0.26 per share. This is an increase from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. Newmont’s payout ratio is currently 15.65%.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.