Impact Partnership Wealth LLC Makes New Investment in Newmont Corporation $NEM

Impact Partnership Wealth LLC bought a new stake in Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,248 shares of the basic materials company’s stock, valued at approximately $714,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEM. Hemington Wealth Management lifted its position in shares of Newmont by 17.6% in the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 170 shares during the period. IVC Wealth Advisors LLC boosted its stake in Newmont by 1.3% during the second quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after buying an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Newmont by 11.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after buying an additional 185 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in shares of Newmont by 4.4% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock worth $260,000 after acquiring an additional 190 shares during the period. Finally, Chelsea Counsel Co. increased its stake in Newmont by 1.0% in the second quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock valued at $1,067,000 after acquiring an additional 190 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on NEM. Citigroup boosted their price target on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Macquarie downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Stifel Nicolaus initiated coverage on Newmont in a report on Wednesday, July 9th. They set a “buy” rating and a $73.00 target price on the stock. Finally, Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of “Buy” and a consensus target price of $86.92.

Newmont Trading Up 0.3%

NEM opened at $79.60 on Thursday. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58. The company has a market cap of $86.87 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 0.53 and a beta of 0.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm has a 50 day simple moving average of $81.80 and a 200 day simple moving average of $66.25.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the company posted $0.81 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.3%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the transaction, the director directly owned 36,869 shares of the company’s stock, valued at $3,133,496.31. This trade represents a 5.34% 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, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,249 shares of company stock valued at $1,132,065. Corporate insiders own 0.05% of the company’s stock.

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.