Newmont Corporation $NEM Shares Newly Acquired by Sowell Financial Services LLC

Sowell Financial Services LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,835 shares of the basic materials company’s stock, valued at approximately $2,518,000.

Other hedge funds also recently modified their holdings of the company. Accel Wealth Management raised its holdings in Newmont by 0.8% during the 2nd quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company’s stock worth $1,377,000 after purchasing an additional 115 shares during the last quarter. Compound Planning Inc. grew its stake in shares of Newmont by 0.6% in the 1st quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock valued at $2,294,000 after buying an additional 121 shares during the period. Zhang Financial LLC increased its holdings in shares of Newmont by 0.8% during the first quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company’s stock valued at $1,707,000 after acquiring an additional 124 shares in the last quarter. Heartland Bank & Trust Co lifted its stake in shares of Newmont by 3.0% in the first quarter. Heartland Bank & Trust Co now owns 4,331 shares of the basic materials company’s stock valued at $469,000 after buying an additional 127 shares in the last quarter. Finally, Bridgewater Advisors Inc. lifted its position in Newmont by 3.6% in the 1st quarter. Bridgewater Advisors Inc. now owns 3,851 shares of the basic materials company’s stock valued at $449,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent analyst reports. Freedom Broker lowered Newmont from a “buy” rating to a “hold” rating and reduced their target price for the company from $130.00 to $116.00 in a report on Thursday, October 22nd. Scotiabank decreased their price target on shares of Newmont from $149.00 to $148.00 and set an “outperform” rating for the company in a research note on Tuesday. Argus set a $110.00 price target on shares of Newmont and gave the stock a “buy” rating in a report on Monday, August 3rd. Jefferies Financial Group upped their price objective on Newmont from $146.00 to $155.00 in a research note on Friday, October 9th. Finally, National Bank Financial decreased their price objective on Newmont from $140.00 to $135.00 and set a “sector perform” rating for the company in a report on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $137.20.

Insider Activity at Newmont

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 35,973 shares of company stock valued at $3,927,169 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Newmont Trading Down 4.7%

Shares of NEM opened at $106.60 on Friday. The firm has a market cap of $110.78 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 2.04 and a beta of 0.51. The firm has a 50 day moving average price of $120.62 and a 200-day moving average price of $112.48. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45. Newmont Corporation has a fifty-two week low of $78.60 and a fifty-two week high of $135.29.

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

Newmont Dividend Announcement

The business also recently declared 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 is Wednesday, November 25th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio is presently 12.09%.

Newmont Profile

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.