259,170 Shares of Newmont Corporation $NEM Bought by Bfsg LLC

Bfsg LLC acquired a new stake in Newmont Corporation (NYSE:NEM) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 259,170 shares of the basic materials company’s stock, valued at approximately $29,893,000. Newmont accounts for 2.6% of Bfsg LLC’s portfolio, making the stock its 5th biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of NEM. BlackRock Inc. acquired a new position in Newmont in the second quarter valued at about $11,289,753,000. State Street Corp raised its holdings in shares of Newmont by 3.1% in the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after buying an additional 1,565,716 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of Newmont during the second quarter worth approximately $671,197,000. Bank of New York Mellon Corp bought a new position in Newmont in the 2nd quarter worth approximately $1,219,505,000. Finally, First Eagle Investment Management LLC acquired a new stake in shares of Newmont in the 2nd quarter valued at $241,820,000. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 10.0%

Shares of Newmont stock opened at $118.22 on Thursday. Newmont Corporation has a 1 year low of $80.49 and a 1 year high of $135.29. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $122.85 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.96 and a beta of 0.56. The firm’s 50 day moving average is $119.34 and its 200 day moving average is $112.44.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.26. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period last year, the company earned $1.71 EPS. Newmont’s revenue for the quarter was up 15.2% compared to the same quarter last year. Equities research analysts forecast that Newmont Corporation will post 9.11 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s dividend payout ratio (DPR) is 12.09%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $108.04, for a total value of $324,120.00. Following the transaction, the executive vice president directly owned 31,315 shares in the company, valued at $3,383,272.60. The trade was a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total transaction of $477,486.00. Following the sale, the chief executive officer directly owned 131,353 shares in the company, valued at approximately $16,156,419. This trade represents a 2.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 20,646 shares of company stock worth $2,380,140. 0.06% of the stock is owned by insiders.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont’s strong free-cash-flow momentum is supporting investment in growth projects and additional shareholder returns, a potential fundamental tailwind. Article: Can Newmont’s Strong Free Cash Flow Momentum Carry Into Q4?
• Positive Sentiment: Recent quarterly results also provide support: Newmont beat analyst expectations for earnings and revenue, with revenue up year over year. Newmont company information
• Negative Sentiment: Insider-sale reports may weigh modestly on sentiment. EVP Peter Toth sold 3,000 shares, while the reported executive transactions were made under pre-arranged plans; the CEO’s sale was described as covering tax withholding on vested awards, which reduces their significance as a signal about the company’s outlook. Article: Insider Selling: Newmont EVP Sells 3,000 Shares

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings upgraded Newmont from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. RBC Dominion Securities set a $155.00 price objective on Newmont and gave the company an “outperform” rating in a report on Thursday, October 22nd. Freedom Broker lowered shares of Newmont from a “buy” rating to a “hold” rating and cut their price target for the company from $130.00 to $116.00 in a research note on Thursday, October 22nd. Canaccord Genuity Group reduced their price target on shares of Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Finally, Citigroup upped their price target on Newmont from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.