Newmont Corporation $NEM Position Raised by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its position in Newmont Corporation (NYSE:NEM) by 20.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,462 shares of the basic materials company’s stock after purchasing an additional 10,683 shares during the period. Park Avenue Securities LLC’s holdings in Newmont were worth $5,350,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NEM. Concord Wealth Partners raised its position in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew 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 worth $29,000 after purchasing an additional 400 shares during the last quarter. Capital A Wealth Management LLC raised its holdings 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 in the last quarter. Caldwell Trust Co acquired a new stake in Newmont during the second quarter valued at approximately $31,000. Finally, Country Trust Bank bought a new stake in Newmont during the second quarter worth approximately $32,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,160 shares of company stock worth $767,206 in the last 90 days. Corporate insiders own 0.05% of the company’s stock.

Newmont Trading Down 1.0%

NYSE:NEM opened at $106.90 on Friday. The stock has a market cap of $116.66 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 0.84 and a beta of 0.41. Newmont Corporation has a fifty-two week low of $38.53 and a fifty-two week high of $109.30. 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 stock’s 50-day moving average is $93.78 and its two-hundred day moving average is $80.23.

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 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 firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Analyst Ratings Changes

NEM has been the topic of several research reports. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Argus upped their target price on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. BNP Paribas Exane lowered 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. Royal Bank Of Canada upped their price objective on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Finally, Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $97.08.

Newmont 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.