Global Retirement Partners LLC Invests $446,000 in Newmont Corporation $NEM

Global Retirement Partners LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,659 shares of the basic materials company’s stock, valued at approximately $446,000.

Other large investors have also bought and sold shares of the company. Northern Trust Corp increased its position in shares of Newmont by 1.5% during the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after acquiring an additional 191,940 shares in the last quarter. Amundi raised its stake in shares of Newmont by 2.8% in the first quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock worth $611,187,000 after purchasing an additional 343,535 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Newmont by 2.2% during the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock valued at $518,936,000 after purchasing an additional 228,116 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Newmont by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after buying an additional 1,201,237 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Newmont by 6.3% in the 2nd quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock worth $433,236,000 after buying an additional 438,748 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction that occurred 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 of the company’s stock, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the sale, the director directly owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 11,237 shares of company stock worth $906,799. 0.05% of the stock is owned by company insiders.

Newmont Trading Up 0.1%

NYSE:NEM opened at $90.65 on Friday. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The business has a fifty day moving average price of $86.28 and a 200-day moving average price of $71.22. The firm has a market capitalization of $98.93 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Newmont (NYSE:NEM) last released 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. 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%.Newmont’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. Sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio is currently 15.53%.

Analyst Ratings Changes

NEM has been the topic of several research analyst reports. The Goldman Sachs Group set a $104.30 target price on shares of Newmont and gave the company a “buy” rating in a research note on Sunday, October 12th. Raymond James Financial set a $99.00 target price on shares of Newmont and gave the stock an “outperform” rating in a report on Friday, October 24th. Royal Bank Of Canada boosted their target price on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. National Bankshares restated an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Finally, Bank of America upped their price objective on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $91.20.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.