Turtle Creek Wealth Advisors LLC Invests $772,000 in Newmont Corporation $NEM

Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,153 shares of the basic materials company’s stock, valued at approximately $772,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Concord Wealth Partners boosted 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 increased its holdings in shares of Newmont by 408.2% during the 2nd 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 last quarter. Capital A Wealth Management LLC raised its position in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after buying an additional 478 shares during the period. Caldwell Trust Co acquired a new position in Newmont in the second quarter valued at approximately $31,000. Finally, Country Trust Bank purchased a new position in Newmont in the second quarter worth approximately $32,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of Newmont stock opened at $119.06 on Wednesday. The stock has a market capitalization of $129.92 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 0.80 and a beta of 0.41. 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 business has a 50-day moving average of $98.68 and a 200 day moving average of $83.64. Newmont Corporation has a 12 month low of $40.85 and a 12 month high of $119.35.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (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 company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Newmont’s dividend payout ratio is 15.53%.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research analyst reports. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. TD Securities raised their price objective on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Macquarie upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, BNP Paribas Exane cut shares of Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price target for the company. in a research report on Friday, December 5th. Six equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Newmont has an average rating of “Buy” and a consensus price target of $99.35.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction 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 completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,160 shares of company stock valued at $767,206 in the last three months. 0.05% of the stock is currently owned by corporate insiders.

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.