Extract Advisors LLC Invests $985,000 in Newmont Corporation $NEM

Extract Advisors LLC bought a new stake in Newmont Corporation (NYSE:NEM) during the first quarter, Holdings Channel reports. The firm bought 9,100 shares of the basic materials company’s stock, valued at approximately $985,000. Newmont makes up about 0.3% of Extract Advisors LLC’s portfolio, making the stock its 21st biggest holding.

Several other institutional investors have also recently bought and sold shares of NEM. Apella Capital LLC increased its stake in shares of Newmont by 4.1% in the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after purchasing an additional 86 shares during the period. New Wave Wealth Advisors LLC boosted its stake in Newmont by 1.3% during the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after purchasing an additional 88 shares during the period. Novem Group boosted its stake in Newmont by 3.7% during the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 88 shares during the period. Parkside Financial Bank & Trust grew its holdings in Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after buying an additional 96 shares during the last quarter. Finally, Coston McIsaac & Partners increased its position in Newmont by 28.6% in the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock worth $44,000 after buying an additional 100 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In related news, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the sale, the executive vice president owned 67,865 shares of the company’s stock, valued at $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David John Thornton sold 2,296 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This trade represents a 9.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 28,556 shares of company stock worth $3,058,146. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of several research analyst reports. BNP Paribas Exane lowered their price objective on shares of Newmont from $128.00 to $111.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. Canaccord Genuity Group upped their target price on shares of Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings downgraded shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. TD Cowen restated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Finally, Macquarie Infrastructure dropped their price objective on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.26.

Newmont Price Performance

Shares of NYSE:NEM opened at $93.45 on Tuesday. The firm has a market capitalization of $98.47 billion, a PE ratio of 11.80, a PEG ratio of 1.11 and a beta of 0.46. 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 1-year low of $61.76 and a 1-year high of $134.88. The business’s 50 day moving average is $99.61 and its 200-day moving average is $109.88.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period in the prior year, the company posted $1.43 earnings per share. Sell-side analysts predict that Newmont Corporation will post 8.9 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s payout ratio is 13.13%.

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.