Newmont Corporation $NEM Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC increased its position in shares of Newmont Corporation (NYSE:NEM) by 105.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,930 shares of the basic materials company’s stock after purchasing an additional 16,898 shares during the period. Procyon Advisors LLC’s holdings in Newmont were worth $2,776,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NEM. Norges Bank purchased a new stake in shares of Newmont in the 2nd quarter valued at approximately $919,170,000. Invesco Ltd. increased its stake in Newmont by 45.0% during the second quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after acquiring an additional 4,839,447 shares during the last quarter. Boston Partners raised its position in Newmont by 4,090.7% in the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock valued at $272,558,000 after purchasing an additional 4,532,263 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Newmont by 1,502.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after purchasing an additional 4,399,778 shares during the last quarter. Finally, LSV Asset Management purchased a new position in shares of Newmont during the 2nd quarter worth $187,206,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NEM shares. BNP Paribas lowered shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price objective on the stock. in a report on Friday, December 5th. CIBC set a $112.00 price target on shares of Newmont and gave the company an “outperformer” rating in a research note on Friday, October 10th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Finally, The Goldman Sachs Group set a $104.30 price target on Newmont and gave the stock a “buy” rating in a research note on Sunday, October 12th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Newmont has a consensus rating of “Buy” and an average target price of $97.08.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction dated 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 owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,160 shares of company stock worth $767,206 in the last ninety days. 0.05% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of NEM opened at $114.14 on Thursday. The company has a market cap of $124.55 billion, a P/E ratio of 17.72, a PEG ratio of 0.85 and a beta of 0.41. Newmont Corporation has a fifty-two week low of $40.35 and a fifty-two week high of $115.70. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average price is $96.33 and its 200 day moving average price is $81.90.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating 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 analysts’ expectations of $5.14 billion. During the same quarter last year, the company posted $0.81 EPS. The firm’s revenue was up 20.0% compared to the same quarter last year. On average, research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio is 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.