Newmont Corporation $NEM Stock Position Lifted by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC lifted its stake in Newmont Corporation (NYSE:NEM) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,480 shares of the basic materials company’s stock after purchasing an additional 7,573 shares during the period. Newmont accounts for about 3.6% of Glass Wealth Management Co LLC’s investment portfolio, making the stock its 6th biggest holding. Glass Wealth Management Co LLC’s holdings in Newmont were worth $8,134,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Concord Wealth Partners raised its stake 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 buying an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew its holdings in shares of Newmont by 408.2% during the 2nd 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 position in shares of Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 478 shares in the last quarter. Caldwell Trust Co bought a new position in shares of Newmont in the 2nd quarter worth approximately $31,000. Finally, Country Trust Bank purchased a new position in shares of Newmont in the 2nd quarter valued at approximately $32,000. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NEM opened at $101.23 on Monday. The firm has a market cap of $110.46 billion, a PE ratio of 15.72, a P/E/G ratio of 0.61 and a beta of 0.41. The stock has a 50-day moving average price of $91.62 and a 200-day moving average price of $79.17. Newmont Corporation has a 1 year low of $37.68 and a 1 year high of $106.34. 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 quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. Newmont’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business earned $0.81 EPS. Sell-side analysts predict 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. 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 payout ratio is presently 15.53%.

Analyst Ratings Changes

NEM has been the subject of a number of research reports. BNP Paribas Exane downgraded Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price objective for the company. in a report on Friday, December 5th. BNP Paribas lowered shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target for the company. in a research note on Friday, December 5th. Royal Bank Of Canada lifted their price target on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Macquarie upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Finally, National Bankshares raised their target price on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Five 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $97.08.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the company’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 transaction, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,160 shares of company stock worth $767,206 over the last ninety days. 0.05% of the stock is currently owned by insiders.

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.