103,572 Shares in Newmont Corporation $NEM Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 103,572 shares of the basic materials company’s stock, valued at approximately $11,946,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Newmont in the 2nd quarter valued at about $11,289,753,000. State Street Corp raised its holdings in 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 acquiring an additional 1,565,716 shares during the period. Van ECK Associates Corp acquired a new stake in Newmont during the second quarter worth approximately $671,197,000. Bank of New York Mellon Corp acquired a new stake in Newmont during the second quarter worth approximately $1,219,505,000. Finally, First Eagle Investment Management LLC bought a new stake in shares of Newmont during the second quarter worth approximately $241,820,000. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $419,411.28. Following the transaction, the chief executive officer directly owned 101,691 shares of the company’s stock, valued at $10,986,695.64. This represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $324,120.00. Following the sale, the executive vice president owned 31,315 shares of the company’s stock, valued at $3,383,272.60. This trade represents a 8.74% 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 sold 20,646 shares of company stock worth $2,380,140 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $125.13 on Tuesday. The firm’s 50 day simple moving average is $118.81 and its 200 day simple moving average is $112.51. The firm has a market capitalization of $130.03 billion, a price-to-earnings ratio of 14.55, a P/E/G ratio of 2.15 and a beta of 0.56. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 1 year low of $81.34 and a 1 year high of $135.29.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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 net margin of 34.73% and a return on equity of 29.81%. The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the previous year, the business earned $1.71 earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. As a group, research analysts expect that Newmont Corporation will post 9.14 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be paid 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 0.8%. Newmont’s dividend payout ratio is presently 12.09%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NEM shares. Scotiabank dropped their target price on Newmont from $149.00 to $148.00 and set an “outperform” rating for the company in a report on Tuesday, October 27th. TD increased their target price on shares of Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Freedom Broker cut shares of Newmont from a “buy” rating to a “hold” rating and lowered their target price for the stock from $130.00 to $116.00 in a report on Thursday, October 22nd. BNP Paribas Exane raised their target price on shares of Newmont from $102.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price target (up from $131.00) on shares of Newmont in a research note on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.20.

About Newmont