HB Wealth Management LLC Has $2.83 Million Stake in Newmont Corporation $NEM

HB Wealth Management LLC raised its stake in Newmont Corporation (NYSE:NEM) by 21.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,559 shares of the basic materials company’s stock after acquiring an additional 5,840 shares during the quarter. HB Wealth Management LLC’s holdings in Newmont were worth $2,829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its stake in 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 purchasing an additional 139 shares during the last quarter. Concord Wealth Partners lifted its stake in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares during the last quarter. Evermay Wealth Management LLC boosted 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 valued at $29,000 after acquiring an additional 400 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in Newmont during the 3rd quarter worth $44,000. Finally, Capital A Wealth Management LLC increased its holdings in 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 purchasing an additional 478 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Activity at Newmont

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 value of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s 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 transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents 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 9,160 shares of company stock valued at $767,206 in the last ninety days. 0.05% of the stock is currently owned by insiders.

Newmont Stock Up 2.0%

Shares of NYSE NEM opened at $108.99 on Friday. The company has a market capitalization of $118.94 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 0.79 and a beta of 0.41. Newmont Corporation has a 52-week low of $38.53 and a 52-week high of $109.30. 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 company’s 50 day moving average price is $94.34 and its 200-day moving average price is $80.57.

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

Newmont Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio is presently 15.53%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NEM shares. BNP Paribas lowered Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target on the stock. in a research note on Friday, December 5th. Macquarie upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. BNP Paribas Exane lowered shares of Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 target price on the stock. in a report on Friday, December 5th. Bank of America raised their price target on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, UBS Group boosted their price objective on shares of Newmont from $105.50 to $125.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Buy” and an average price target of $97.08.

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.