13,608 Shares of Newmont Corporation $NEM Purchased by North Star Investment Management Corp.

North Star Investment Management Corp. purchased a new stake in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 13,608 shares of the basic materials company’s stock, valued at approximately $1,570,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Accel Wealth Management increased its position in shares of Newmont by 0.8% during the second quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company’s stock valued at $1,377,000 after acquiring an additional 115 shares during the last quarter. Compound Planning Inc. grew its stake in shares of Newmont by 0.6% in the first quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock worth $2,294,000 after acquiring an additional 121 shares in the last quarter. Center for Financial Planning Inc. increased its position in shares of Newmont by 6.7% during the third quarter. Center for Financial Planning Inc. now owns 1,921 shares of the basic materials company’s stock worth $222,000 after acquiring an additional 121 shares during the period. Zhang Financial LLC raised its stake in shares of Newmont by 0.8% in the first quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company’s stock valued at $1,707,000 after acquiring an additional 124 shares in the last quarter. Finally, Heartland Bank & Trust Co raised its stake in shares of Newmont by 3.0% in the first quarter. Heartland Bank & Trust Co now owns 4,331 shares of the basic materials company’s stock valued at $469,000 after acquiring an additional 127 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NEM shares. Citigroup boosted their target price on Newmont from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings raised Newmont from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. The Goldman Sachs Group cut their target price on shares of Newmont from $127.50 to $119.00 in a research note on Thursday, October 8th. Finally, Barclays cut their target price on shares of Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $137.20.

Insider Transactions at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s 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 $344,430.00. Following the sale, the executive vice president owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. The trade was a 8.04% 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. In the last ninety days, insiders sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

Shares of NEM stock opened at $111.65 on Friday. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $121.04 and a 200 day moving average price of $112.51. The company has a market cap of $116.02 billion, a P/E ratio of 12.98, a PEG ratio of 2.07 and a beta of 0.51. Newmont Corporation has a 12 month low of $78.60 and a 12 month high of $135.29.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.94 by $0.26. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The firm had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the prior year, the company posted $1.71 earnings per share. Newmont’s revenue for the quarter was up 15.2% compared to the same quarter last year. Sell-side analysts predict that Newmont Corporation will post 9.14 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s dividend payout ratio is currently 12.09%.

Newmont Profile

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.