80,512 Shares of Newmont Corporation $NEM Purchased by Lesa Sroufe & Co

Lesa Sroufe & Co acquired a new stake in Newmont Corporation (NYSE:NEM) in the 3rd quarter, Holdings Channel reports. The firm acquired 80,512 shares of the basic materials company’s stock, valued at approximately $9,286,000. Newmont makes up 6.3% of Lesa Sroufe & Co’s holdings, making the stock its 2nd biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in NEM. Hourglass Capital LLC acquired a new stake in Newmont during the third quarter worth approximately $13,066,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new position in shares of Newmont in the 3rd quarter valued at $814,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Newmont in the 2nd quarter valued at $36,180,000. Fifth Third Wealth Advisors LLC purchased a new position in shares of Newmont in the 3rd quarter valued at $1,769,000. Finally, Asset One Wealth Management LLC acquired a new stake in Newmont during the 2nd quarter worth $2,866,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NEM has been the subject of several research reports. BNP Paribas Exane boosted their target price on Newmont from $102.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, August 17th. TD Cowen cut their price target on Newmont from $133.00 to $131.00 in a research report on Tuesday, October 20th. Citigroup boosted their price objective on Newmont from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. 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 equities research 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.20.

Newmont Stock Up 2.3%

NEM opened at $109.03 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16. The business has a 50 day simple moving average of $120.16 and a 200-day simple moving average of $112.46. The stock has a market capitalization of $113.31 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.07 and a beta of 0.51. Newmont Corporation has a 12 month low of $78.60 and a 12 month high of $135.29.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.26. The firm had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. Newmont’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.71 earnings per share. On average, equities analysts anticipate that Newmont Corporation will post 9.11 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed 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 (DPR) is 12.09%.

Insider Activity at Newmont

In other Newmont news, CEO Natascha Viljoen sold 3,882 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 value of $445,692.42. Following the completion of the transaction, the chief executive officer directly owned 127,471 shares of the company’s stock, valued at approximately $14,634,945.51. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $344,430.00. Following the sale, the executive vice president owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. The trade was 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 sold 32,973 shares of company stock worth $3,646,819 over the last 90 days. Company insiders own 0.06% of the company’s stock.

About Newmont

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.