103,572 Shares in Newmont Corporation $NEM Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC bought a new stake in Newmont Corporation (NYSE:NEM) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 103,572 shares of the basic materials company’s stock, valued at approximately $11,946,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Newmont during the 2nd quarter worth approximately $11,289,753,000. State Street Corp raised its stake in shares of Newmont by 3.1% in the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after buying an additional 1,565,716 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Newmont by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock valued at $1,324,757,000 after buying an additional 615,461 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Newmont by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock valued at $1,012,792,000 after buying an additional 184,586 shares during the last quarter. Finally, Amundi increased its holdings in Newmont by 4.4% in the 1st quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock worth $950,519,000 after acquiring an additional 372,415 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

Newmont stock opened at $125.13 on Tuesday. The firm’s 50 day simple moving average is $118.81 and its 200 day simple moving average is $112.51. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $130.03 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 2.15 and a beta of 0.56. Newmont Corporation has a 1-year low of $81.34 and a 1-year high of $135.29.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the firm earned $1.71 EPS. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. As a group, analysts expect that Newmont Corporation will post 9.14 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s dividend payout ratio (DPR) is 12.09%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Argus set a $110.00 price target on shares of Newmont and gave the company a “buy” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Newmont from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. BNP Paribas Exane boosted their target price on shares of Newmont from $102.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, August 17th. Citigroup increased their target price on Newmont from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Finally, TD Cowen cut their price target on Newmont from $133.00 to $131.00 in a report on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.20.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $108.04, for a total value of $324,120.00. Following the completion of the sale, the executive vice president owned 31,315 shares of the company’s stock, valued at approximately $3,383,272.60. The trade was a 8.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total value of $477,486.00. Following the completion of the transaction, the chief executive officer directly owned 131,353 shares in the company, valued at $16,156,419. This trade represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 20,646 shares of company stock worth $2,380,140. Company insiders own 0.06% of the company’s stock.

Newmont Profile