Kaizen Financial Strategies Makes New Investment in Newmont Corporation $NEM

Kaizen Financial Strategies bought a new stake in Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,467 shares of the basic materials company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares during the period. Allworth Financial LP lifted its stake in shares of Newmont by 25.7% in the first quarter. Allworth Financial LP now owns 6,037 shares of the basic materials company’s stock worth $291,000 after acquiring an additional 1,234 shares in the last quarter. Schechter Investment Advisors LLC acquired a new stake in Newmont during the 1st quarter valued at approximately $218,000. CWM LLC increased its holdings in Newmont by 12.7% during the 1st quarter. CWM LLC now owns 18,670 shares of the basic materials company’s stock worth $901,000 after purchasing an additional 2,103 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Newmont by 28.2% in the 1st quarter. Bleakley Financial Group LLC now owns 18,986 shares of the basic materials company’s stock valued at $917,000 after purchasing an additional 4,179 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 3.5%

NYSE:NEM opened at $93.12 on Thursday. The firm has a market capitalization of $101.62 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.53 and a beta of 0.33. The business has a 50 day simple moving average of $84.05 and a 200 day simple moving average of $68.31. 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 Corporation has a 12-month low of $36.86 and a 12-month high of $98.58.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the sale, the director directly owned 34,789 shares in the company, valued at $2,816,517.44. This represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’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 transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 11,237 shares of company stock valued at $906,799. Company insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NEM shares. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $71.50 to $114.00 in a research report on Thursday, October 23rd. Royal Bank Of Canada lifted their price target on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. UBS Group increased their target price on Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Citigroup boosted their price target on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.99.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.