Estate Counselors LLC Invests $4.18 Million in Newmont Corporation $NEM

Estate Counselors LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 49,605 shares of the basic materials company’s stock, valued at approximately $4,182,000.

A number of other large investors also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its holdings in shares of Newmont by 176.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after purchasing an additional 285,897 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its position in shares of Newmont by 59.6% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after buying an additional 5,848 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Newmont by 172.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after buying an additional 2,723,044 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Newmont by 73.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 30,056 shares of the basic materials company’s stock valued at $2,534,000 after buying an additional 12,717 shares in the last quarter. Finally, Live Oak Investment Partners purchased a new position in Newmont during the 3rd quarter valued at approximately $2,232,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Canaccord Genuity Group increased their target price on Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Friday. Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. TD Securities boosted their target price on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their target price 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. Six research 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. According to MarketBeat, Newmont currently has a consensus rating of “Buy” and an average price target of $103.77.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred 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 approximately $3,021,003.24. This represents a 5.98% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is owned by insiders.

Newmont Trading Up 2.2%

NEM stock opened at $124.34 on Monday. Newmont Corporation has a twelve month low of $40.85 and a twelve month high of $124.64. The stock has a market capitalization of $135.69 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 0.95 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. The firm’s fifty day simple moving average is $100.57 and its two-hundred day simple moving average is $84.96.

Newmont (NYSE:NEM) last released 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 analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 EPS. As a group, analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

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.