Curbstone Financial Management Corp Acquires Shares of 5,418 Newmont Corporation $NEM

Curbstone Financial Management Corp bought a new position in Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,418 shares of the basic materials company’s stock, valued at approximately $457,000.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares in the last quarter. CW Advisors LLC bought a new stake in Newmont during the 1st quarter worth approximately $205,000. Northwestern Mutual Wealth Management Co. increased its holdings in Newmont by 333.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 89,037 shares of the basic materials company’s stock valued at $4,299,000 after purchasing an additional 68,473 shares in the last quarter. Synovus Financial Corp raised its position in Newmont by 3.4% in the 1st quarter. Synovus Financial Corp now owns 16,141 shares of the basic materials company’s stock valued at $779,000 after purchasing an additional 533 shares during the last quarter. Finally, Comerica Bank boosted its stake in Newmont by 8.0% in the first quarter. Comerica Bank now owns 158,767 shares of the basic materials company’s stock worth $7,665,000 after purchasing an additional 11,823 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont 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 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. The disclosure for this sale is available in the SEC filing. Insiders sold 11,240 shares of company stock worth $943,985 in the last three months. Insiders own 0.05% of the company’s stock.

Newmont Stock Down 0.5%

Shares of NYSE:NEM opened at $104.72 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The stock has a market cap of $114.27 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 0.73 and a beta of 0.41. The company has a 50 day moving average of $90.08 and a 200-day moving average of $76.95. Newmont Corporation has a one year low of $36.86 and a one year high of $105.73.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The firm 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 business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. On average, sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio is currently 15.53%.

Analyst Ratings Changes

A number of research analysts recently issued reports on NEM shares. UBS Group lifted 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. CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Argus increased their price target on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. Finally, The Goldman Sachs Group set a $104.30 price objective on Newmont and gave the stock a “buy” rating in a report on Sunday, October 12th. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $96.37.

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.