Lbp Am Sa Sells 85,389 Shares of Newmont Corporation $NEM

Lbp Am Sa decreased its position in shares of Newmont Corporation (NYSE:NEM) by 22.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 291,252 shares of the basic materials company’s stock after selling 85,389 shares during the quarter. Lbp Am Sa’s holdings in Newmont were worth $24,555,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its position in Newmont by 53.5% during the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares during the last quarter. HHM Wealth Advisors LLC boosted its position in shares of Newmont by 26.4% during the 3rd quarter. HHM Wealth Advisors LLC now owns 670 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 140 shares in the last quarter. Summit Financial Wealth Advisors LLC grew its stake in Newmont by 2.3% during the third quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock worth $566,000 after purchasing an additional 145 shares during the period. Welch Group LLC grew its stake in Newmont by 1.3% during the third quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock worth $1,027,000 after purchasing an additional 153 shares during the period. Finally, Resonant Capital Advisors LLC increased its holdings in Newmont by 3.8% in the third quarter. Resonant Capital Advisors LLC now owns 4,401 shares of the basic materials company’s stock worth $371,000 after purchasing an additional 163 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NEM has been the subject of several research analyst reports. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. Macquarie upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Raymond James Financial raised their target price on Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Finally, Argus upped their price target on Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Six analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $103.77.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the sale, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,160 shares of company stock worth $767,206 in the last ninety days. 0.05% of the stock is currently owned by insiders.

Newmont Stock Performance

NYSE NEM opened at $124.34 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm has a market cap of $135.69 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 0.95 and a beta of 0.41. Newmont Corporation has a 1 year low of $40.85 and a 1 year high of $124.64. The company has a fifty day moving average price of $100.57 and a 200-day moving average price of $84.96.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 EPS. As a group, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.