16,887 Shares in Newmont Corporation $NEM Bought by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC purchased a new position in Newmont Corporation (NYSE:NEM) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,887 shares of the basic materials company’s stock, valued at approximately $1,948,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC bought a new position in Newmont during the 1st quarter valued at $25,000. Pinnacle Bancorp Inc. bought a new stake in shares of Newmont in the 1st quarter worth about $25,000. GoalVest Advisory LLC bought a new stake in shares of Newmont in the 3rd quarter worth about $28,000. Clearstead Trust LLC acquired a new stake in shares of Newmont in the 2nd quarter valued at about $25,000. Finally, Kilter Group LLC acquired a new stake in shares of Newmont in the 2nd quarter valued at about $26,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $445,692.42. Following the sale, the chief executive officer owned 127,471 shares in the company, valued at approximately $14,634,945.51. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. The trade was a 28.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,973 shares of company stock worth $3,927,169 in the last ninety days. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NEM shares. The Goldman Sachs Group reduced their price target on shares of Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Bank of America lowered their price objective on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce set a $154.00 price objective on Newmont in a research note on Friday, October 16th. TD upped their price objective on Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Barclays reduced their target price on Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $133.92.

Newmont Stock Up 0.2%

Shares of Newmont stock opened at $117.09 on Thursday. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. The business’s 50 day simple moving average is $122.06 and its 200-day simple moving average is $111.00. The stock has a market capitalization of $123.37 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 2.16 and a beta of 0.51. Newmont Corporation has a twelve month low of $76.05 and a twelve month high of $135.29.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Equities research analysts forecast that Newmont Corporation will post 9.04 earnings per share for the current year.

Newmont Company Profile

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.