Eschler Asset Management LLP Buys Shares of 100,000 Newmont Corporation $NEM
by Jessica Moore · The Cerbat GemEschler Asset Management LLP purchased a new stake in shares of Newmont Corporation (NYSE:NEM – Free Report) in the second quarter, HoldingsChannel reports. The firm purchased 100,000 shares of the basic materials company’s stock, valued at approximately $5,826,000. Newmont comprises about 4.3% of Eschler Asset Management LLP’s investment portfolio, making the stock its 7th largest holding.
Other large investors have also recently made changes to their positions in the company. Concord Wealth Partners increased its holdings in Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC boosted its position in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares during the period. CoreFirst Bank & Trust acquired a new stake in shares of Newmont in the second quarter valued at $32,000. Country Trust Bank purchased a new stake in shares of Newmont in the 2nd quarter valued at $32,000. Finally, Colonial Trust Advisors lifted its stake in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 429 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Newmont
In related news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’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 transaction of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 11,240 shares of company stock worth $943,985. Company insiders own 0.05% of the company’s stock.
Newmont Trading Down 1.2%
NYSE NEM opened at $98.21 on Friday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $102.13. The firm has a 50 day moving average of $87.86 and a two-hundred day moving average of $73.94. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $107.17 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41.
Newmont (NYSE:NEM – Get Free Report) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company’s revenue was up 20.0% on a year-over-year basis. During the same period last year, the business earned $0.81 EPS. As a group, research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.
Newmont Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio is currently 15.53%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $71.50 to $114.00 in a research report on Thursday, October 23rd. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $120.00 price objective on shares of Newmont in a research report on Sunday, December 7th. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $96.37.
Get Our Latest Report on Newmont
Newmont Company 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.
Read More
- Five stocks we like better than Newmont
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Synopsys Sees Bullish Shift as Ansys Integration Drives Growth
- What Are Treasury Bonds?
- The Best Holiday Present You Can Give Yourself? Costco Stock
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Why Zscaler Stock Could Be Ready to Bounce After a 30% Selloff
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM – Free Report).