SteelPeak Wealth LLC Buys Shares of 44,709 Newmont Corporation $NEM

SteelPeak Wealth LLC bought a new stake in Newmont Corporation (NYSE:NEM) in the 2nd quarter, HoldingsChannel reports. The fund bought 44,709 shares of the basic materials company’s stock, valued at approximately $2,605,000.

Several other institutional investors also recently bought and sold shares of NEM. Cloud Capital Management LLC acquired a new stake in Newmont in the first quarter valued at approximately $26,000. Colonial Trust Advisors boosted its stake in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 429 shares in the last quarter. Private Trust Co. NA boosted its stake in Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 347 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in Newmont in the first quarter valued at approximately $32,000. Finally, TCTC Holdings LLC boosted its stake in Newmont by 123.1% in the first quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 362 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the transaction, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the transaction, the executive vice president directly owned 58,736 shares of the company’s stock, valued at $3,739,133.76. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock valued at $1,132,065 over the last 90 days. Insiders own 0.05% of the company’s stock.

Newmont Trading Down 1.7%

Shares of Newmont stock opened at $87.03 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The firm has a fifty day moving average price of $75.33 and a 200 day moving average price of $61.73. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $89.37. The stock has a market cap of $95.59 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 0.99 and a beta of 0.34.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the company posted $0.72 earnings per share. The firm’s revenue was up 20.8% compared to the same quarter last year. Equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is 17.95%.

Analyst Ratings Changes

A number of research firms have issued reports on NEM. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Saturday, September 27th. Stifel Nicolaus began coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price target for the company. Royal Bank Of Canada raised shares of Newmont from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $66.00 to $95.00 in a report on Wednesday, September 10th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Finally, CIBC raised their price target on shares of Newmont from $74.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, September 12th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.18.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.