Newmont Corporation $NEM Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its holdings in shares of Newmont Corporation (NYSE:NEM) by 73.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,056 shares of the basic materials company’s stock after purchasing an additional 12,717 shares during the quarter. Farther Finance Advisors LLC’s holdings in Newmont were worth $2,534,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Concord Wealth Partners lifted its holdings in Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares in the last quarter. Evermay Wealth Management LLC increased its position in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares during the period. Capital A Wealth Management LLC raised its stake in shares of Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 478 shares in the last quarter. Caldwell Trust Co purchased a new position in Newmont in the second quarter valued at $31,000. Finally, Country Trust Bank acquired a new position in Newmont during the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,240 shares of company stock worth $943,985 in the last 90 days. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Down 0.5%

Shares of NYSE:NEM opened at $104.72 on Friday. The firm has a 50 day simple moving average of $90.08 and a 200-day simple moving average of $76.95. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $105.73. 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 company has a market capitalization of $114.27 billion, a PE ratio of 16.26, a P/E/G ratio of 0.73 and a beta of 0.41.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping 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 firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the business earned $0.81 EPS. Newmont’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NEM shares. National Bankshares increased their price target on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. TD Securities raised their target price on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. CIBC set a $112.00 price target on shares of Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Finally, Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $71.50 to $114.00 in a research report on Thursday, October 23rd. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Newmont currently has a consensus rating of “Buy” and an average price target 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.