One Way Holdings LLC Purchases 187,469 Shares of Newmont Corporation $NEM

One Way Holdings LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 187,469 shares of the basic materials company’s stock, valued at approximately $21,623,000.

A number of other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Newmont in the second quarter valued at approximately $11,289,753,000. State Street Corp boosted its position in shares of Newmont by 3.1% during the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock worth $4,893,852,000 after buying an additional 1,565,716 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Newmont by 5.3% during the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock worth $1,324,757,000 after buying an additional 615,461 shares during the period. Dimensional Fund Advisors LP grew its holdings in Newmont by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock worth $1,012,792,000 after buying an additional 184,586 shares in the last quarter. Finally, Amundi grew its holdings in Newmont by 4.4% in the 1st quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock worth $950,519,000 after buying an additional 372,415 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on NEM shares. Scotiabank cut their target price on Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 27th. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. TD Cowen cut their price objective on shares of Newmont from $133.00 to $131.00 in a research note on Tuesday, October 20th. Freedom Broker downgraded shares of Newmont from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $130.00 to $116.00 in a report on Thursday, October 22nd. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $140.00 target price (up from $131.00) on shares of Newmont in a research report on Monday, August 24th. Two 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 stock. According to MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average target price of $137.20.

Newmont Price Performance

NYSE:NEM opened at $106.60 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $120.62 and its 200 day moving average price is $112.48. Newmont Corporation has a 52-week low of $78.60 and a 52-week high of $135.29. The firm has a market cap of $110.78 billion, a P/E ratio of 12.40, a PEG ratio of 1.95 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its earnings results 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 return on equity of 29.81% and a net margin of 34.73%. 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 prior year, the business posted $1.71 earnings per share. Newmont’s revenue was up 15.2% compared to the same quarter last year. As a group, sell-side analysts predict that Newmont Corporation will post 9.11 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be paid a dividend of $0.26 per share. 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 12.09%.

Insider Buying and Selling at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the sale, the executive vice president owned 34,315 shares in the company, valued at $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,973 shares of company stock worth $3,646,819 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Newmont Company 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.