Lmcg Investments LLC Acquires New Shares in Newmont Corporation $NEM

Lmcg Investments LLC bought a new stake in Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,744 shares of the basic materials company’s stock, valued at approximately $2,508,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new stake in Newmont during the first quarter worth $25,000. Cedar Mountain Advisors LLC acquired a new stake in Newmont in the first quarter valued at $25,000. Clearstead Trust LLC bought a new position in shares of Newmont in the 2nd quarter valued at about $25,000. Kilter Group LLC bought a new position in shares of Newmont in the 2nd quarter valued at about $26,000. Finally, GoalVest Advisory LLC bought a new position in shares of Newmont in the 3rd quarter valued at about $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president directly owned 34,315 shares of the company’s stock, valued at $3,939,705.15. This represents a 8.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 35,973 shares of company stock worth $3,927,169. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent analyst reports. Barclays lowered their price objective on shares of Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday. National Bank Financial cut their target price on shares of Newmont from $140.00 to $135.00 and set a “sector perform” rating for the company in a research note on Tuesday. Canadian Imperial Bank of Commerce set a $154.00 price target on Newmont in a report on Friday, October 16th. Argus set a $110.00 price objective on Newmont in a research note on Monday, August 3rd. Finally, Sanford C. Bernstein cut their price objective on Newmont from $147.00 to $144.00 and set an “outperform” rating for the company in a research report on Wednesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $133.92.

Newmont Trading Up 0.2%

NEM stock opened at $117.09 on Thursday. Newmont Corporation has a one year low of $76.05 and a one year high of $135.29. The stock has a market cap of $123.37 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 2.16 and a beta of 0.51. The company has a fifty day moving average price of $122.06 and a two-hundred day moving average price of $111.00. 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 issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the prior year, the firm earned $1.43 earnings per share. Equities analysts anticipate that Newmont Corporation will post 9.04 EPS for the current year.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.