9,100 Shares in Newmont Corporation $NEM Acquired by Extract Advisors LLC

Extract Advisors LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,100 shares of the basic materials company’s stock, valued at approximately $985,000. Newmont comprises 0.3% of Extract Advisors LLC’s investment portfolio, making the stock its 21st largest position.

Several other hedge funds have also recently added to or reduced their stakes in NEM. Pinnacle Bancorp Inc. purchased a new stake in shares of Newmont during the first quarter valued at $25,000. Cedar Mountain Advisors LLC purchased a new stake in Newmont during the first quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in shares of Newmont in the fourth quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in shares of Newmont in the third quarter worth approximately $27,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 206 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In related news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president directly owned 43,315 shares in the company, valued at $4,001,439.70. The trade was a 6.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 28,556 shares of company stock worth $3,058,146. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their price objective on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Canaccord Genuity Group increased their price objective on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. TD Cowen restated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Raymond James Financial lowered their target price on Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Finally, Citigroup reiterated a “positive” rating on shares of Newmont in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $136.26.

Newmont Stock Up 0.3%

Shares of Newmont stock opened at $93.45 on Tuesday. The firm has a market cap of $98.47 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.11 and a beta of 0.46. The stock has a 50-day simple moving average of $99.61 and a 200-day simple moving average of $109.88. Newmont Corporation has a 52-week low of $61.76 and a 52-week high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the prior year, the company posted $1.43 earnings per share. On average, equities research analysts expect that Newmont Corporation will post 8.9 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s payout ratio is currently 13.13%.

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.