41,450 Shares of Newmont Corporation $NEM Bought by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC bought a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, HoldingsChannel reports. The fund bought 41,450 shares of the basic materials company’s stock, valued at approximately $4,781,000. Newmont makes up approximately 1.0% of Strengthening Families & Communities LLC’s investment portfolio, making the stock its 25th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sowell Financial Services LLC purchased a new position in Newmont in the 3rd quarter worth approximately $2,518,000. Quadrant Capital Group LLC purchased a new stake in shares of Newmont during the third quarter valued at approximately $1,697,000. Uncommon Cents Investing Inc purchased a new stake in shares of Newmont during the third quarter valued at approximately $4,731,000. Nisa Investment Advisors LLC acquired a new position in shares of Newmont during the third quarter worth $17,759,000. Finally, Harfst & Associates Inc. acquired a new position in shares of Newmont during the third quarter worth $1,829,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is available 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 that occurred 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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 35,973 shares of company stock worth $3,927,169. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Down 0.3%

NEM stock traded down $0.40 during mid-day trading on Wednesday, hitting $116.41. 2,160,704 shares of the company were exchanged, compared to its average volume of 8,502,756. The company has a market capitalization of $122.66 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.19 and a beta of 0.51. 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 twelve month low of $76.05 and a twelve month high of $135.29. The firm has a fifty day simple moving average of $122.07 and a 200 day simple moving average of $110.98.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the previous year, the firm earned $1.43 EPS. On average, research analysts forecast that Newmont Corporation will post 9.04 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Wall Street Analysts Forecast Growth

NEM has been the subject of several analyst reports. Weiss Ratings upgraded shares of Newmont from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Royal Bank Of Canada lifted their price target on shares of Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price objective on shares of Newmont in a report on Monday, August 24th. Scotiabank upped their price objective on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Finally, Barclays decreased their price objective on shares of Newmont from $124.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $133.92.

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.