One Way Holdings LLC purchased a new stake in Newmont Corporation (NYSE:NEM – Free Report) in the third quarter, HoldingsChannel reports. The firm purchased 187,469 shares of the basic materials company’s stock, valued at approximately $21,623,000.
A number of other institutional investors have also recently modified their holdings of NEM. Cedar Mountain Advisors LLC bought a new stake in Newmont during the first quarter worth about $25,000. Clearstead Trust LLC acquired a new stake in shares of Newmont during the 2nd quarter worth approximately $25,000. Kilter Group LLC bought a new position in Newmont in the second quarter valued at approximately $26,000. GoalVest Advisory LLC acquired a new position in Newmont during the third quarter valued at approximately $28,000. Finally, Financial Management Professionals Inc. acquired a new position in Newmont during the third quarter valued at approximately $30,000. 68.85% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at $3,081,659.16. The trade was a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares in the company, valued at $14,064,440. The trade was a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 32,973 shares of company stock worth $3,646,819. 0.06% of the stock is currently owned by insiders.
Analyst Ratings Changes
NEM has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce set a $154.00 target price on Newmont in a report on Friday, October 16th. BMO Capital Markets upped their price objective on Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Barclays reduced their price objective on Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. TD Cowen decreased their target price on Newmont from $133.00 to $131.00 in a research report on Tuesday, October 20th. Finally, TD increased their target price on shares of Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.20.
View Our Latest Stock Analysis on NEM
Newmont Trading Down 0.0%
NYSE NEM opened at $106.60 on Monday. The company has a market cap of $110.78 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.95 and a beta of 0.51. Newmont Corporation has a twelve month low of $78.60 and a twelve month high of $135.29. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average is $120.62 and its 200 day moving average is $112.48.
Newmont (NYSE:NEM – Get Free Report) last posted its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.94 by $0.26. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the company earned $1.71 earnings per share. The business’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts expect that Newmont Corporation will post 9.11 EPS for the current fiscal year.
Newmont Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio is presently 12.09%.
Newmont Profile
Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.
Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.
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