Gateway Wealth Partners LLC Buys Shares of 17,086 Newmont Corporation $NEM

Gateway Wealth Partners LLC bought a new stake in Newmont Corporation (NYSE:NEM) during the 1st quarter, HoldingsChannel.com reports. The firm bought 17,086 shares of the basic materials company’s stock, valued at approximately $1,850,000.

A number of other institutional investors have also recently made changes to their positions in the company. Apella Capital LLC raised its stake in Newmont by 4.1% in the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after purchasing an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC lifted its holdings in Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after purchasing an additional 88 shares in the last quarter. Novem Group boosted its stake in Newmont by 3.7% during the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 88 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Newmont by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after purchasing an additional 96 shares during the last quarter. Finally, Coston McIsaac & Partners grew its holdings in shares of Newmont by 28.6% during the fourth quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock worth $44,000 after buying an additional 100 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Newmont

In related news, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. This trade represents a 16.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the sale, the executive vice president directly owned 43,315 shares in the company, valued at approximately $4,001,439.70. The trade was a 6.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,556 shares of company stock valued at $3,058,146 in the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Trading Down 2.1%

Shares of Newmont stock opened at $91.54 on Wednesday. The stock has a 50 day moving average of $99.34 and a 200 day moving average of $109.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The firm has a market capitalization of $96.45 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.11 and a beta of 0.46. Newmont Corporation has a fifty-two week low of $61.76 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The company 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 previous year, the business earned $1.43 earnings per share. As a group, research analysts predict that Newmont Corporation will post 8.92 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. 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 dividend payout ratio (DPR) is 13.13%.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a research report on Tuesday. TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. TD upgraded shares of Newmont from a “hold” rating to a “buy” rating and cut their price objective for the company from $129.00 to $127.00 in a report on Tuesday, July 14th. Macquarie Infrastructure cut their price objective on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, June 15th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $168.00 target price on shares of Newmont in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.83.

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.