Kaizen Financial Strategies Invests $202,000 in Newmont Corporation $NEM

Kaizen Financial Strategies acquired a new stake in Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,467 shares of the basic materials company’s stock, valued at approximately $202,000.

Several other hedge funds also recently made changes to their positions in NEM. Colonial Trust Advisors raised its holdings in shares of 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 buying an additional 429 shares during the last quarter. Concord Wealth Partners grew its position in Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares during the last quarter. Evermay Wealth Management LLC raised its position in Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares during the last quarter. TCTC Holdings LLC boosted its holdings in shares of 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. Finally, Dagco Inc. purchased a new position in Newmont during the first quarter worth about $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. TD Securities raised their target price on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Citigroup boosted their target price on shares of Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Finally, The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the company a “buy” rating in a research note on Sunday, October 12th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.99.

Newmont Stock Performance

Shares of NYSE NEM opened at $93.12 on Thursday. The company has a 50-day simple moving average of $84.05 and a 200-day simple moving average of $68.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The company has a market cap of $101.62 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $0.81 earnings per share. On average, equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Newmont’s payout ratio is presently 15.53%.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the sale, the director directly owned 34,789 shares in the company, valued at $2,816,517.44. This represents a 5.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 11,237 shares of company stock valued at $906,799 in the last ninety days. 0.05% of the stock is currently owned by company insiders.

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.