Newmont Corporation $NEM Shares Sold by Spire Wealth Management

Spire Wealth Management cut its holdings in shares of Newmont Corporation (NYSE:NEM) by 34.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,199 shares of the basic materials company’s stock after selling 7,001 shares during the quarter. Spire Wealth Management’s holdings in Newmont were worth $1,113,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Concord Wealth Partners lifted its stake in Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew its position 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 valued at $29,000 after purchasing an additional 400 shares in the last quarter. Capital A Wealth Management LLC increased its holdings in shares of Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 478 shares during the last quarter. Caldwell Trust Co purchased a new position in Newmont during the second quarter worth approximately $31,000. Finally, Country Trust Bank purchased a new position in Newmont during the second quarter worth approximately $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,160 shares of company stock valued at $767,206 in the last quarter. 0.05% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on NEM. The Goldman Sachs Group set a $104.30 target price on Newmont and gave the company a “buy” rating in a report on Sunday, October 12th. Jefferies Financial Group reissued a “buy” rating and set a $120.00 price target on shares of Newmont in a research report on Sunday, December 7th. Citigroup upped their price objective on shares of Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. National Bankshares lifted their target price on shares of Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Finally, Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Newmont presently has an average rating of “Buy” and a consensus target price of $97.08.

Newmont Stock Up 2.0%

Shares of NYSE:NEM opened at $108.99 on Friday. The company has a market capitalization of $118.94 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 0.79 and a beta of 0.41. Newmont Corporation has a 12-month low of $38.53 and a 12-month high of $109.30. The business has a 50-day moving average price of $94.34 and a 200 day moving average price of $80.57. 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 announced 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. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the firm posted $0.81 earnings per share. Newmont’s revenue was up 20.0% compared to the same quarter last year. Sell-side analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.