Newmont Corporation $NEM Shares Bought by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC raised its holdings in Newmont Corporation (NYSE:NEM) by 20.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,636 shares of the basic materials company’s stock after purchasing an additional 1,486 shares during the period. Premier Path Wealth Partners LLC’s holdings in Newmont were worth $503,000 at the end of the most recent quarter.

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 grew its holdings 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 purchasing an additional 429 shares during the period. Concord Wealth Partners grew its holdings in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the period. Evermay Wealth Management LLC boosted its stake in shares of Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares during the last quarter. Finally, Private Trust Co. NA boosted 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 acquiring an additional 347 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other news, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the company’s 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 directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 11,172 shares of company stock worth $808,863. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of a number of research analyst reports. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Finally, Stifel Nicolaus assumed coverage on shares of Newmont in a research report on Wednesday, July 9th. They issued a “buy” rating and a $73.00 target price for the company. Five research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Newmont has an average rating of “Buy” and an average price target of $86.92.

Newmont Stock Performance

NYSE NEM opened at $82.32 on Friday. The stock’s fifty day moving average is $82.05 and its two-hundred day moving average is $66.36. The firm has a market capitalization of $89.83 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 0.53 and a beta of 0.34. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58.

Newmont (NYSE:NEM) last released its quarterly earnings data 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. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. On average, research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio is 15.53%.

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.