Newmont Corporation $NEM Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Newmont Corporation (NYSE:NEM) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 226,390 shares of the basic materials company’s stock after acquiring an additional 14,033 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Newmont were worth $19,685,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. raised its position in shares of Newmont by 53.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 139 shares during the last quarter. Summit Financial Wealth Advisors LLC raised its holdings in shares of Newmont by 2.3% in the third quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock worth $566,000 after acquiring an additional 145 shares during the last quarter. Welch Group LLC lifted its position in shares of Newmont by 1.3% in the third quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock valued at $1,027,000 after acquiring an additional 153 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in shares of Newmont by 3.8% in the third quarter. Resonant Capital Advisors LLC now owns 4,401 shares of the basic materials company’s stock valued at $371,000 after acquiring an additional 163 shares in the last quarter. Finally, Hemington Wealth Management increased its position in Newmont by 17.6% during the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 170 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of Newmont stock opened at $118.88 on Thursday. The stock has a market capitalization of $129.73 billion, a P/E ratio of 18.46, a PEG ratio of 0.90 and a beta of 0.41. 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 business’s fifty day moving average price is $99.20 and its 200 day moving average price is $83.88. Newmont Corporation has a twelve month low of $40.85 and a twelve month high of $121.45.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS 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 the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business posted $0.81 EPS. As a group, research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,080 shares of the 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 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. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 9,160 shares of company stock worth $767,206. Insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NEM shares. Raymond James Financial raised their price target on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $71.50 to $114.00 in a research report on Thursday, October 23rd. UBS Group boosted their price target on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a report on Monday, December 1st. Macquarie raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Finally, DZ Bank upgraded Newmont to a “strong-buy” rating in a research report on Monday. Six research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $99.49.

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.