9,153 Shares in Newmont Corporation $NEM Acquired by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC purchased a new position in Newmont Corporation (NYSE:NEM) in the third quarter, Holdings Channel reports. The fund purchased 9,153 shares of the basic materials company’s stock, valued at approximately $772,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Harbor Capital Advisors Inc. raised its holdings in shares of Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 139 shares in the last quarter. Concord Wealth Partners increased 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 buying an additional 385 shares during the last quarter. Evermay Wealth Management LLC raised its stake in 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 buying an additional 400 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in Newmont during the 3rd quarter worth about $44,000. Finally, Capital A Wealth Management LLC boosted its position in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 478 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

NEM stock opened at $119.06 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $129.92 billion, a P/E ratio of 18.49, a PEG ratio of 0.80 and a beta of 0.41. The business has a 50 day simple moving average of $98.68 and a 200-day simple moving average of $83.64. Newmont Corporation has a twelve month low of $40.85 and a twelve month high of $119.35.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. As a group, equities analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s dividend payout ratio is presently 15.53%.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the transaction, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were 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 $22,768,936.82. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,160 shares of company stock valued at $767,206 in the last quarter. Insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NEM shares. Bank of America raised their target price on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. TD Securities raised their price objective on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. BNP Paribas downgraded shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price on the stock. in a research report on Friday, December 5th. Finally, Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Six analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Newmont has a consensus rating of “Buy” and an average target price of $99.35.

Newmont 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.