9,602 Shares of Newmont Corporation $NEM Purchased by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC acquired a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,602 shares of the basic materials company’s stock, valued at approximately $1,107,000.

A number of other hedge funds also recently bought and sold shares of NEM. BlackRock Inc. purchased a new position in Newmont in the second quarter worth approximately $11,289,753,000. State Street Corp lifted its holdings in shares of Newmont by 3.1% in the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after purchasing an additional 1,565,716 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Newmont by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock valued at $1,324,757,000 after buying an additional 615,461 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Newmont by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock worth $1,012,792,000 after purchasing an additional 184,586 shares during the period. Finally, Amundi increased its position in Newmont by 4.4% in the 1st quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock valued at $950,519,000 after acquiring an additional 372,415 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont’s strong free-cash-flow momentum is supporting investment in growth projects and additional shareholder returns, a potential fundamental tailwind. Article: Can Newmont’s Strong Free Cash Flow Momentum Carry Into Q4?
• Positive Sentiment: Recent quarterly results also provide support: Newmont beat analyst expectations for earnings and revenue, with revenue up year over year. Newmont company information
• Negative Sentiment: Insider-sale reports may weigh modestly on sentiment. EVP Peter Toth sold 3,000 shares, while the reported executive transactions were made under pre-arranged plans; the CEO’s sale was described as covering tax withholding on vested awards, which reduces their significance as a signal about the company’s outlook. Article: Insider Selling: Newmont EVP Sells 3,000 Shares

Wall Street Analyst Weigh In

Several analysts have recently commented on NEM shares. The Goldman Sachs Group reduced their target price on shares of Newmont from $127.50 to $119.00 in a research note on Thursday, October 8th. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Scotiabank lowered their price target on shares of Newmont from $149.00 to $148.00 and set an “outperform” rating for the company in a report on Tuesday, October 27th. TD upped their target price on Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Citigroup lifted their price target on shares of Newmont from $125.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $137.20.

Newmont Price Performance

Shares of NEM stock opened at $118.22 on Thursday. The firm has a fifty day moving average of $119.34 and a two-hundred day moving average of $112.44. Newmont Corporation has a 1-year low of $80.49 and a 1-year high of $135.29. The firm has a market cap of $122.85 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.96 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.26. The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.71 EPS. As a group, research analysts anticipate that Newmont Corporation will post 9.11 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total transaction of $324,120.00. Following the transaction, the executive vice president directly owned 31,315 shares of the company’s stock, valued at approximately $3,383,272.60. This trade represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $108.04, for a total transaction of $419,411.28. Following the sale, the chief executive officer owned 101,691 shares in the company, valued at $10,986,695.64. This trade represents a 3.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders sold 20,646 shares of company stock worth $2,380,140. Corporate insiders own 0.06% of the company’s stock.

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.