Sigma Planning Corp Has $966,000 Position in Newmont Corporation $NEM

Sigma Planning Corp lifted its stake in Newmont Corporation (NYSE:NEM) by 278.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,586 shares of the basic materials company’s stock after acquiring an additional 12,206 shares during the quarter. Sigma Planning Corp’s holdings in Newmont were worth $966,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Concord Wealth Partners grew its stake in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares in the last quarter. Evermay Wealth Management LLC raised its stake in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares in the last quarter. Colonial Trust Advisors lifted its holdings in shares of Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after buying an additional 429 shares during the last quarter. Financial Management Professionals Inc. grew its stake in shares of Newmont by 274.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after buying an additional 444 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its stake in shares of Newmont by 92.3% in the 2nd quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company’s stock valued at $36,000 after buying an additional 300 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent research reports. Macquarie lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. TD Securities increased their price target on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Citigroup raised their price target on shares of Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Finally, CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $86.92.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the transaction, the director directly owned 34,789 shares in the company, valued at approximately $2,816,517.44. This represents a 5.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of Newmont stock opened at $82.55 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $82.96 and a 200-day simple moving average of $67.27. The stock has a market capitalization of $90.08 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.53 and a beta of 0.33. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. Newmont’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business posted $0.81 EPS. On average, sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.