Kathmere Capital Management LLC Makes New $471,000 Investment in Newmont Corporation $NEM

Kathmere Capital Management LLC purchased a new stake in Newmont Corporation (NYSE:NEM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,582 shares of the basic materials company’s stock, valued at approximately $471,000.

A number of other hedge funds also recently made changes to their positions in the stock. Concord Wealth Partners boosted its holdings in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares during the last quarter. Evermay Wealth Management LLC lifted its position 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 worth $29,000 after purchasing an additional 400 shares during the period. Capital A Wealth Management LLC lifted its position 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 worth $30,000 after purchasing an additional 478 shares during the period. Caldwell Trust Co bought a new stake in shares of Newmont in the 2nd quarter valued at $31,000. Finally, Country Trust Bank acquired a new stake in shares of Newmont during the second quarter worth $32,000. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NEM. TD Securities boosted their target price on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Macquarie raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Citigroup boosted their price objective on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, The Goldman Sachs Group set a $104.30 price target on Newmont and gave the company a “buy” rating in a research note on Sunday, October 12th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $97.08.

Newmont Stock Down 1.1%

Shares of NYSE:NEM opened at $108.04 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a 52-week low of $38.11 and a 52-week high of $109.30. The business’s 50 day simple moving average is $93.29 and its two-hundred day simple moving average is $80.04. The firm has a market cap of $117.90 billion, a P/E ratio of 16.78, a PEG ratio of 0.84 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 EPS for the quarter, beating 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 the consensus estimate of $5.14 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, research analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio is presently 15.53%.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their position. 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 Newmont stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,160 shares of company stock worth $767,206 over the last ninety days. Insiders own 0.05% of the company’s stock.

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.