Mather Group LLC. Purchases 103,127 Shares of Newmont Corporation $NEM

Mather Group LLC. purchased a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 103,127 shares of the basic materials company’s stock, valued at approximately $11,895,000.

Several other large investors have also bought and sold shares of NEM. Pinnacle Bancorp Inc. purchased a new position in Newmont during the 1st quarter worth $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont in the 1st quarter worth $25,000. Clearstead Trust LLC bought a new stake in shares of Newmont in the 2nd quarter worth $25,000. Kilter Group LLC purchased a new stake in shares of Newmont in the second quarter valued at about $26,000. Finally, GoalVest Advisory LLC purchased a new stake in shares of Newmont in the third quarter valued at about $28,000. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the transaction, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. This trade represents a 5.43% decrease in their position. 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. In the last ninety days, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NEM. National Bank Financial raised their price target on shares of Newmont from $120.00 to $140.00 and gave the company a “sector perform” rating in a research report on Monday, September 21st. Barclays reduced their price objective on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a research report on Tuesday, July 28th. Bank of America reduced their price objective on shares of Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Canaccord Genuity Group decreased their price objective on shares of Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.26.

Newmont Stock Down 3.7%

NEM stock opened at $111.37 on Thursday. The stock’s fifty day simple moving average is $121.75 and its two-hundred day simple moving average is $110.69. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 1-year low of $76.05 and a 1-year high of $135.29. The stock has a market cap of $117.35 billion, a P/E ratio of 14.06, a P/E/G ratio of 2.14 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the prior year, the company earned $1.43 EPS. Analysts expect that Newmont Corporation will post 9.05 EPS for the current year.

Newmont Announces Dividend

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