Kenora Financial LLC Purchases New Stake in Newmont Corporation $NEM

Kenora Financial LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,528 shares of the basic materials company’s stock, valued at approximately $638,000.

A number of other large investors have also added to or reduced their stakes in NEM. Cedar Mountain Advisors LLC purchased a new position in shares of Newmont in the 1st quarter worth about $25,000. Pinnacle Bancorp Inc. purchased a new stake in Newmont during the 1st quarter valued at about $25,000. GoalVest Advisory LLC bought a new stake in Newmont during the 3rd quarter valued at about $28,000. Clearstead Trust LLC bought a new stake in Newmont during the 2nd quarter valued at about $25,000. Finally, Kilter Group LLC bought a new stake in Newmont during the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 0.5%

NEM opened at $118.03 on Tuesday. The stock has a market capitalization of $124.37 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.20 and a beta of 0.51. The firm has a 50 day moving average price of $122.08 and a 200-day moving average price of $110.96. Newmont Corporation has a twelve month low of $76.05 and a twelve month high of $135.29. 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 announced its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share 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 net margin of 33.36% and a return on equity of 29.10%. During the same period in the previous year, the business earned $1.43 EPS. Equities research analysts forecast that Newmont Corporation will post 9.05 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were given a $0.26 dividend. This represents a $1.04 annualized dividend and a 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%.

Analyst Ratings Changes

NEM has been the topic of several analyst reports. TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. National Bank Financial raised their price target on shares of Newmont from $120.00 to $140.00 and gave the company a “sector perform” rating in a research report on Monday, September 21st. Jefferies Financial Group decreased their price objective on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a report on Monday, July 6th. UBS Group decreased their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Canaccord Genuity Group lowered their price objective on Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. 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. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $133.45.

Insider Buying and Selling at Newmont

In other news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. This represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $445,692.42. Following the completion of the transaction, the chief executive officer directly owned 127,471 shares in the company, valued at approximately $14,634,945.51. The trade was a 2.96% 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 a total of 35,973 shares of company stock worth $3,927,169 in the last three months. 0.06% of the stock is currently owned by company 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.