Lawood & Co. Acquires 7,153 Shares of Newmont Corporation $NEM

Lawood & Co. purchased a new stake in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,153 shares of the basic materials company’s stock, valued at approximately $825,000.

Other large investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC bought a new stake in Newmont in the first quarter valued at approximately $25,000. Pinnacle Bancorp Inc. bought a new stake in Newmont in the first quarter valued at approximately $25,000. GoalVest Advisory LLC bought a new position in shares of Newmont during the 3rd quarter worth approximately $28,000. Clearstead Trust LLC acquired a new position in shares of Newmont during the 2nd quarter worth approximately $25,000. Finally, Kilter Group LLC bought a new stake in Newmont in the 2nd quarter valued at $26,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the transaction, the executive vice president directly owned 34,315 shares in the company, valued at approximately $3,939,705.15. The trade was a 8.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were 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 in the company, valued at $14,064,440. The trade was a 5.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,973 shares of company stock worth $3,927,169 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Raymond James Financial restated an “outperform” rating and set a $140.00 target price on shares of Newmont in a research note on Monday, August 24th. Barclays decreased their price objective on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. Canadian Imperial Bank of Commerce set a $170.00 target price on Newmont in a report on Friday, August 14th. Argus set a $110.00 target price on shares of Newmont in a research report on Monday, August 3rd. Finally, Bank of America lowered their price target on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Two investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.26.

Newmont Stock Performance

Shares of Newmont stock traded up $2.30 on Friday, reaching $117.85. 2,095,938 shares of the company traded hands, compared to its average volume of 8,630,432. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The firm has a market capitalization of $124.18 billion, a PE ratio of 14.88, a PEG ratio of 1.58 and a beta of 0.51. The company has a 50 day moving average of $120.34 and a 200 day moving average of $110.23. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29.

Newmont (NYSE:NEM) last issued its quarterly 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. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. Equities analysts forecast that Newmont Corporation will post 9.1 earnings per share for the current year.

Newmont Dividend Announcement

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

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.