Lawood & Co. Purchases 7,153 Shares of Newmont Corporation $NEM

Lawood & Co. acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,153 shares of the basic materials company’s stock, valued at approximately $825,000.

A number of other large investors also recently bought and sold shares of NEM. Pinnacle Bancorp Inc. acquired a new stake in shares of Newmont during the first quarter valued at about $25,000. Cedar Mountain Advisors LLC purchased a new position in shares of Newmont during the 1st quarter worth approximately $25,000. Clearstead Trust LLC acquired a new stake in Newmont in the 2nd quarter valued at approximately $25,000. Kilter Group LLC acquired a new stake in Newmont in the 2nd quarter valued at approximately $26,000. Finally, GoalVest Advisory LLC purchased a new stake in Newmont in the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Jefferies Financial Group cut their price target on shares of Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. TD upped their price target on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Canaccord Genuity Group cut their target price on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Finally, Wall Street Zen downgraded Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.26.

Newmont Stock Up 2.0%

Newmont stock traded up $2.30 during midday trading on Friday, hitting $117.85. The stock had a trading volume of 2,095,938 shares, compared to its average volume of 8,630,432. Newmont Corporation has a 12 month low of $76.05 and a 12 month high of $135.29. The business has a fifty day moving average price of $120.34 and a 200 day moving average price of $110.23. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. The stock has a market cap of $124.18 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.58 and a beta of 0.51.

Newmont (NYSE:NEM) last issued its quarterly 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. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period last year, the company earned $1.43 earnings per share. Research analysts predict that Newmont Corporation will post 9.1 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were issued a $0.26 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio is currently 13.13%.

Insider Transactions at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. This trade represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $445,692.42. Following the completion of the transaction, the chief executive officer directly owned 127,471 shares in the company, valued at approximately $14,634,945.51. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,973 shares of company stock valued at $3,927,169 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Newmont Company Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.