Creative Planning Buys 21,508 Shares of Newmont Corporation $NEM

Creative Planning grew its stake in shares of Newmont Corporation (NYSE:NEM) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 155,637 shares of the basic materials company’s stock after acquiring an additional 21,508 shares during the period. Creative Planning’s holdings in Newmont were worth $9,067,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. Brighton Jones LLC lifted its holdings in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares during the last quarter. CWM LLC increased its position in Newmont by 12.7% during the 1st quarter. CWM LLC now owns 18,670 shares of the basic materials company’s stock worth $901,000 after buying an additional 2,103 shares during the period. Sigma Planning Corp acquired a new stake in shares of Newmont during the first quarter worth $211,000. Private Advisor Group LLC lifted its holdings in shares of Newmont by 9.7% during the first quarter. Private Advisor Group LLC now owns 89,104 shares of the basic materials company’s stock worth $4,302,000 after buying an additional 7,849 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in shares of Newmont by 21.0% in the first quarter. Kestra Private Wealth Services LLC now owns 48,938 shares of the basic materials company’s stock valued at $2,363,000 after acquiring an additional 8,509 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NEM. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $71.50 to $114.00 in a research note on Thursday, October 23rd. UBS Group lifted their price target on shares of Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a research report on Thursday, October 16th. Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Weiss Ratings raised Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, November 13th. Finally, TD Securities increased their target price on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $88.99.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the transaction, the director owned 34,789 shares in the company, valued at $2,816,517.44. The trade was a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 11,237 shares of company stock worth $906,799 over the last ninety days. 0.05% of the stock is currently owned by insiders.

Newmont Stock Performance

Shares of Newmont stock opened at $86.67 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The company has a market cap of $94.58 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The company has a 50 day moving average of $85.02 and a 200-day moving average of $69.42. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.81 earnings per share. As a group, equities research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors 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 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio is currently 15.53%.

Newmont 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.