Newmont Corporation $NEM Shares Newly Purchased by Successful Portfolios LLC

Successful Portfolios LLC purchased a new stake in Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,225 shares of the basic materials company’s stock, valued at approximately $721,000.

A number of other institutional investors also recently modified their holdings of NEM. Cedar Mountain Advisors LLC bought a new position in shares of Newmont during the first quarter worth about $25,000. Pinnacle Bancorp Inc. bought a new stake in Newmont during the 1st quarter worth about $25,000. GoalVest Advisory LLC acquired a new position in shares of Newmont during the 3rd quarter worth about $28,000. Clearstead Trust LLC acquired a new position in shares of Newmont during the 2nd quarter worth about $25,000. Finally, Kilter Group LLC bought a new position in shares of Newmont in the 2nd quarter valued at about $26,000. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Brian Tabolt sold 11,445 shares of the 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 transaction, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NEM. Argus set a $110.00 price target on Newmont in a research report on Monday, August 3rd. TD Securities raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Raymond James Financial reissued an “outperform” rating and issued a $140.00 target price on shares of Newmont in a research note on Monday, August 24th. Macquarie Infrastructure lowered their target price on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. Finally, Canaccord Genuity Group dropped their price target on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $134.26.

Newmont Stock Performance

NEM traded up $2.38 during trading hours on Friday, reaching $117.93. The company’s stock had a trading volume of 4,830,513 shares, compared to its average volume of 8,644,920. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29. The firm has a market cap of $124.26 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51. The company’s 50-day moving average is $120.83 and its 200-day moving average is $110.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter last year, the company posted $1.43 EPS. On average, equities analysts forecast that Newmont Corporation will post 9.1 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont’s payout ratio is currently 13.13%.

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.