Sowell Financial Services LLC Acquires 12,201 Shares of Newmont Corporation $NEM

Sowell Financial Services LLC boosted its holdings in Newmont Corporation (NYSE:NEM) by 70.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,637 shares of the basic materials company’s stock after purchasing an additional 12,201 shares during the quarter. Sowell Financial Services LLC’s holdings in Newmont were worth $2,499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEM. Harbor Capital Advisors Inc. increased its stake in shares of Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares in the last quarter. Concord Wealth Partners grew its holdings in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares during the period. Evermay Wealth Management LLC increased its stake in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. Capital A Wealth Management LLC increased its stake in 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 purchasing an additional 478 shares in the last quarter. Finally, Caldwell Trust Co acquired a new position in shares of Newmont during the second quarter valued at about $31,000. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Raymond James Financial set a $99.00 price objective on Newmont and gave the company an “outperform” rating in a research note on Friday, October 24th. BNP Paribas downgraded Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price objective for the company. in a report on Friday, December 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Newmont in a report on Monday, December 22nd. Finally, BNP Paribas Exane downgraded shares of Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price target for the company. in a research report on Friday, December 5th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $96.37.

Newmont Stock Up 1.0%

NEM stock opened at $105.79 on Monday. The firm has a market capitalization of $115.44 billion, a PE ratio of 16.43, a P/E/G ratio of 0.74 and a beta of 0.41. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $106.34. The stock’s 50 day moving average is $90.38 and its 200-day moving average is $77.66.

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

Newmont Announces Dividend

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

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s 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 completion of the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, December 1st. The shares were 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 of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 11,240 shares of company stock worth $943,985. 0.05% of the stock is owned by corporate insiders.

About Newmont

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.