Wealth Enhancement Advisory Services LLC Increases Stock Position in Newmont Corporation $NEM

Wealth Enhancement Advisory Services LLC increased its position in shares of Newmont Corporation (NYSE:NEM) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,390 shares of the basic materials company’s stock after buying an additional 14,033 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Newmont were worth $19,685,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Concord Wealth Partners boosted its holdings in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC increased its stake in shares of Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares during the last quarter. Capital A Wealth Management LLC increased its stake in shares of Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after buying an additional 478 shares during the last quarter. Caldwell Trust Co acquired a new stake in Newmont in the second quarter valued at $31,000. Finally, Country Trust Bank bought a new position in Newmont during the 2nd quarter valued at $32,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the 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 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont 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. The trade was a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is owned by insiders.

Newmont Stock Performance

NEM stock opened at $118.88 on Thursday. Newmont Corporation has a 1 year low of $40.85 and a 1 year high of $121.45. The stock has a market capitalization of $129.73 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 0.90 and a beta of 0.41. 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 stock’s fifty day moving average is $99.20 and its two-hundred day moving average is $83.88.

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 the consensus estimate 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%. The company’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent analyst reports. Bank of America upped their target price 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. BNP Paribas Exane cut Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price objective on the stock. in a research note on Friday, December 5th. Royal Bank Of Canada lifted their target price on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Finally, CIBC set a $112.00 price target on shares of Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Six analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $99.49.

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.