Newmont Corporation $NEM Shares Newly Acquired by Worth Financial Advisory Group LLC

Worth Financial Advisory Group LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,527 shares of the basic materials company’s stock, valued at approximately $522,000.

A number of other institutional investors have also added to or reduced their stakes in NEM. Blue Trust Inc. increased its holdings in shares of Newmont by 0.6% during the first quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after acquiring an additional 100 shares in the last quarter. Accel Wealth Management lifted its holdings in shares of 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 in the last quarter. Bell Investment Advisors Inc lifted its holdings in shares of Newmont by 41.8% in the 1st quarter. Bell Investment Advisors Inc now owns 397 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 117 shares in the last quarter. Compound Planning Inc. lifted its holdings in shares of Newmont by 0.6% in the 1st quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock worth $2,294,000 after purchasing an additional 121 shares in the last quarter. Finally, Zhang Financial LLC grew its position in Newmont by 0.8% in the 1st 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. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president directly owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. This represents a 8.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 35,973 shares of company stock valued at $3,927,169 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent research reports. National Bank Financial boosted their price target on shares of Newmont from $120.00 to $140.00 and gave the company a “sector perform” rating in a research note on Monday, September 21st. BMO Capital Markets lifted their price objective on shares of Newmont from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 29th. Jefferies Financial Group decreased their target price on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, July 6th. UBS Group lowered their target price on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.45.

Newmont Stock Down 0.5%

NEM stock opened at $118.03 on Tuesday. The stock’s 50 day moving average is $122.08 and its 200-day moving average is $110.96. Newmont Corporation has a twelve month low of $76.05 and a twelve month high of $135.29. The firm has a market capitalization of $124.37 billion, a PE ratio of 14.90, a P/E/G ratio of 2.20 and a beta of 0.51. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last released 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. 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 firm posted $1.43 EPS. Sell-side analysts expect that Newmont Corporation will post 9.05 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

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.