5,194 Shares in Newmont Corporation $NEM Purchased by Walled Lake Planning & Wealth Management LLC

Walled Lake Planning & Wealth Management LLC bought a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,194 shares of the basic materials company’s stock, valued at approximately $599,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. BlackRock Inc. acquired a new position in shares of Newmont in the 2nd quarter valued at $11,289,753,000. Van ECK Associates Corp bought a new position in shares of Newmont during the second quarter valued at $671,197,000. Bank of New York Mellon Corp bought a new position in Newmont during the 2nd quarter valued at about $1,219,505,000. First Eagle Investment Management LLC acquired a new stake in Newmont during the 2nd quarter valued at $241,820,000. Finally, Amundi bought a new position in shares of Newmont in the second quarter valued at about $209,411,000. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NEM. Canaccord Genuity Group dropped their price objective on shares of Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Barclays cut their target price on shares of Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Scotiabank reduced their target price on shares of Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 27th. TD Cowen lowered their price target on shares of Newmont from $133.00 to $131.00 in a research report on Tuesday, October 20th. Finally, BMO Capital Markets boosted their price target on shares of Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

Newmont Stock Down 0.0%

NYSE:NEM opened at $106.60 on Monday. Newmont Corporation has a 1 year low of $78.60 and a 1 year high of $135.29. The stock has a 50-day moving average price of $120.62 and a two-hundred day moving average price of $112.48. The stock has a market cap 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 current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15.

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, 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 for the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter in the previous year, the business posted $1.71 EPS. Newmont’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities analysts expect that Newmont Corporation will post 9.11 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, November 25th. Newmont’s dividend payout ratio (DPR) is 12.09%.

Insider Buying and Selling at Newmont

In other news, CFO Brian Tabolt sold 11,445 shares of the 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 owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at $14,064,440. This represents a 5.43% 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. Over the last quarter, insiders have sold 32,973 shares of company stock valued at $3,646,819. 0.06% of the stock is currently owned by corporate insiders.

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.