Newmont Corporation $NEM Shares Newly Bought by Parcion Private Wealth LLC

Parcion Private Wealth LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, Holdings Channel.com reports. The firm bought 10,748 shares of the basic materials company’s stock, valued at approximately $1,240,000.

Several other institutional investors also recently bought and sold shares of the stock. Accel Wealth Management increased its stake in Newmont by 0.8% in 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 period. Compound Planning Inc. lifted its position in Newmont by 0.6% in the first quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock valued at $2,294,000 after purchasing an additional 121 shares during the last quarter. Center for Financial Planning Inc. boosted its stake in shares of Newmont by 6.7% during the third quarter. Center for Financial Planning Inc. now owns 1,921 shares of the basic materials company’s stock valued at $222,000 after purchasing an additional 121 shares during the period. Zhang Financial LLC boosted its stake 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 purchasing an additional 124 shares during the period. Finally, Heartland Bank & Trust Co boosted its stake in shares of Newmont by 3.0% during the first quarter. Heartland Bank & Trust Co now owns 4,331 shares of the basic materials company’s stock valued at $469,000 after purchasing an additional 127 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Trading Down 4.7%

NEM opened at $106.60 on Friday. The business has a 50 day simple moving average of $120.62 and a two-hundred day simple moving average of $112.48. The firm has a market capitalization of $110.78 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.95 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16. Newmont Corporation has a one year low of $78.60 and a one year high of $135.29.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.26. The business had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the business posted $1.71 EPS. Analysts predict that Newmont Corporation will post 9.11 EPS for the current year.

Newmont Dividend Announcement

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

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the transaction, the chief executive officer owned 135,235 shares in the company, valued at $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $344,430.00. Following the completion of the sale, the executive vice president directly owned 34,315 shares of the company’s stock, valued at $3,939,705.15. The trade was a 8.04% 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. Insiders sold a total of 35,973 shares of company stock worth $3,927,169 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NEM has been the topic of several analyst reports. Freedom Broker downgraded shares of Newmont from a “buy” rating to a “hold” rating and decreased their target price for the stock from $130.00 to $116.00 in a research note on Thursday, October 22nd. Barclays lowered their price target on shares of Newmont from $124.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, October 19th. BNP Paribas Exane increased their price target on shares of Newmont from $102.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. Royal Bank Of Canada raised their price target on shares of Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $137.20.

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.