Tred Avon Family Wealth LLC Purchases New Stake in Newmont Corporation $NEM

Tred Avon Family Wealth LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,780 shares of the basic materials company’s stock, valued at approximately $487,000.

Other large investors also recently added to or reduced their stakes in the company. Concord Wealth Partners raised its stake in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares during the last quarter. Evermay Wealth Management LLC boosted its stake in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 400 shares during the last quarter. Capital A Wealth Management LLC boosted its stake in Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 478 shares during the last quarter. Caldwell Trust Co bought a new stake in shares of Newmont during the 2nd quarter valued at $31,000. Finally, Country Trust Bank bought a new stake in shares of Newmont during the 2nd quarter valued at $32,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James Financial raised their price target on Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. Argus boosted their target price on Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Citigroup reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, January 12th. Finally, CIBC set a $112.00 price objective on shares of Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $99.35.

Newmont Stock Down 0.0%

Shares of Newmont stock opened at $114.17 on Monday. The company has a market capitalization of $124.59 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 0.85 and a beta of 0.41. 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 business has a 50-day moving average of $97.58 and a two-hundred day moving average of $82.84. Newmont Corporation has a 1 year low of $40.85 and a 1 year high of $115.70.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (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 analyst estimates of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.Newmont’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS. As a group, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on 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 directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,160 shares of company stock worth $767,206 over the last ninety days. 0.05% of the stock is currently owned by insiders.

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.