Newmont Corporation $NEM Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 41.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,890 shares of the basic materials company’s stock after selling 7,832 shares during the quarter. Simplicity Wealth LLC’s holdings in Newmont were worth $918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NEM. Bailard Inc. acquired a new stake in Newmont during the 3rd quarter worth $269,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in shares of Newmont during the third quarter worth about $242,000. Rakuten Investment Management Inc. purchased a new stake in shares of Newmont in the 3rd quarter valued at about $1,559,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Newmont by 2.5% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,705,941 shares of the basic materials company’s stock valued at $143,828,000 after purchasing an additional 41,677 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its position in shares of Newmont by 51.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,518 shares of the basic materials company’s stock valued at $596,000 after purchasing an additional 2,570 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $124.34 on Friday. The stock has a market capitalization of $135.69 billion, a P/E ratio of 19.31, a P/E/G ratio of 0.92 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a 1 year low of $40.85 and a 1 year high of $124.64. The company’s fifty day moving average is $100.57 and its two-hundred day moving average is $84.59.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share 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 business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction that occurred 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 sale, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. The SEC filing for this sale provides additional information. 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.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NEM shares. TD Securities lifted their price target on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Argus lifted their target price on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. The Goldman Sachs Group increased their price target on shares of Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research note on Monday, January 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a research note on Monday, December 29th. Finally, Raymond James Financial upped their target price on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Six research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $99.49.

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.