Newmont Corporation $NEM Shares Sold by Inspire Investing LLC

Inspire Investing LLC lessened its holdings in Newmont Corporation (NYSE:NEM) by 62.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,437 shares of the basic materials company’s stock after selling 110,918 shares during the period. Newmont makes up approximately 0.6% of Inspire Investing LLC’s portfolio, making the stock its 27th largest position. Inspire Investing LLC’s holdings in Newmont were worth $5,686,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Harbor Capital Advisors Inc. boosted its holdings in Newmont by 53.5% in the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 139 shares during the period. Concord Wealth Partners raised its position 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 in the last quarter. Evermay Wealth Management LLC boosted its stake in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares during the period. Capital A Wealth Management LLC boosted its stake in shares of Newmont by 1,648.3% in 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. Finally, Caldwell Trust Co acquired a new position in shares of Newmont during the second quarter worth about $31,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.5%

NYSE:NEM opened at $104.72 on Thursday. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $105.73. 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 stock’s 50 day simple moving average is $89.95 and its 200-day simple moving average is $76.76. The firm has a market cap of $114.27 billion, a P/E ratio of 16.26, a PEG ratio of 0.73 and a beta of 0.41.

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

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Newmont’s payout ratio is 15.53%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 11,240 shares of company stock worth $943,985. Insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Royal Bank Of Canada increased their target price on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 27th. National Bankshares increased their price objective on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. The Goldman Sachs Group set a $104.30 target price on Newmont and gave the stock a “buy” rating in a research note on Sunday, October 12th. Finally, BNP Paribas lowered shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target on the stock. in a research note on Friday, December 5th. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $96.37.

Newmont Company Profile

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.