Cheviot Value Management LLC Sells 34,744 Shares of Newmont Corporation $NEM

Cheviot Value Management LLC lowered its position in shares of Newmont Corporation (NYSE:NEM) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 315,560 shares of the basic materials company’s stock after selling 34,744 shares during the quarter. Newmont comprises approximately 2.7% of Cheviot Value Management LLC’s portfolio, making the stock its 12th biggest position. Cheviot Value Management LLC’s holdings in Newmont were worth $25,037,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Concord Wealth Partners boosted its stake in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares in the last quarter. Evermay Wealth Management LLC lifted its holdings 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 valued at $29,000 after purchasing an additional 400 shares during the last quarter. Capital A Wealth Management LLC boosted 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 purchasing an additional 478 shares in the last quarter. Caldwell Trust Co bought a new stake in shares of Newmont in the 2nd quarter worth approximately $31,000. Finally, Country Trust Bank purchased a new stake in shares of Newmont in the 2nd quarter worth approximately $32,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NYSE:NEM opened at $124.34 on Friday. 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 firm has a market cap of $135.69 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. The business has a 50-day simple moving average of $100.57 and a two-hundred day simple moving average of $84.78. Newmont Corporation has a fifty-two week low of $40.85 and a fifty-two week high of $124.64.

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 analysts’ consensus estimates of $1.27 by $0.44. The firm 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%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share. On average, analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Analyst Ratings Changes

NEM has been the topic of several analyst reports. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Citigroup reiterated a “buy” rating on shares of Newmont in a research note on Monday, January 12th. Raymond James Financial increased their price objective on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. BNP Paribas Exane cut shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a report on Friday, December 5th. Finally, Macquarie upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Six 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, the stock presently has a consensus rating of “Buy” and a consensus price target of $103.77.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is currently owned by insiders.

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.