Cwm LLC Boosts Stock Holdings in Newmont Corporation $NEM

Cwm LLC lifted its stake in Newmont Corporation (NYSE:NEM) by 177.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,275 shares of the basic materials company’s stock after buying an additional 78,919 shares during the period. Cwm LLC’s holdings in Newmont were worth $10,393,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NEM. Spirit of America Management Corp NY bought a new position in Newmont during the 3rd quarter worth approximately $177,000. Curbstone Financial Management Corp purchased a new stake in shares of Newmont during the third quarter valued at approximately $457,000. Harbor Capital Advisors Inc. grew its holdings in shares of Newmont by 53.5% in the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 139 shares during the last quarter. Norden Group LLC increased its stake in shares of Newmont by 18.3% in the third quarter. Norden Group LLC now owns 12,277 shares of the basic materials company’s stock worth $1,035,000 after buying an additional 1,900 shares during the period. Finally, World Investment Advisors purchased a new position in shares of Newmont in the third quarter worth $408,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $105.79 on Monday. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $106.34. The stock’s 50 day simple moving average is $90.38 and its two-hundred day simple moving average is $77.66. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The stock has a market cap of $115.44 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.74 and a beta of 0.41.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the company earned $0.81 EPS. The business’s revenue was up 20.0% compared to the same quarter last year. As a group, analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NEM shares. BNP Paribas cut shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target for the company. in a research report on Friday, December 5th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $71.50 to $114.00 in a research note on Thursday, October 23rd. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. UBS Group increased their price objective on Newmont from $105.50 to $125.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $120.00 price objective on shares of Newmont in a research report on Sunday, December 7th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $96.37.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,240 shares of company stock worth $943,985. Company insiders own 0.05% of the company’s stock.

Newmont Company 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.