Impact Partnership Wealth LLC Invests $714,000 in Newmont Corporation $NEM

Impact Partnership Wealth LLC bought a new stake in Newmont Corporation (NYSE:NEM) during the second quarter, HoldingsChannel.com reports. The firm bought 12,248 shares of the basic materials company’s stock, valued at approximately $714,000.

Other hedge funds also recently modified their holdings of the company. Cloud Capital Management LLC bought a new stake in shares of Newmont during the first quarter worth about $26,000. Colonial Trust Advisors grew its holdings in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 429 shares during the last quarter. Concord Wealth Partners raised its stake in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares during the last quarter. Evermay Wealth Management LLC lifted its holdings in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the period. Finally, Private Trust Co. NA grew its stake in shares of Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 347 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

NEM opened at $79.60 on Thursday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The company has a market cap of $86.87 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 0.53 and a beta of 0.34. The company’s fifty day moving average price is $81.80 and its two-hundred day moving average price is $66.25. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The firm’s revenue was up 20.0% compared to the same quarter last year. On average, analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 26th. Newmont’s payout ratio is presently 15.53%.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NEM. Citigroup raised their price objective on Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. BNP Paribas Exane boosted their target price on shares of Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, September 15th. The Goldman Sachs Group set a $104.30 price objective on Newmont and gave the stock a “buy” rating in a research report on Sunday, October 12th. Raymond James Financial set a $99.00 target price on shares of Newmont and gave the company an “outperform” rating in a research report on Friday, October 24th. Finally, Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $86.92.

Newmont Company 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.