XML Financial LLC Purchases 22,270 Shares of Newmont Corporation $NEM

XML Financial LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,270 shares of the basic materials company’s stock, valued at approximately $2,569,000.

Several other hedge funds also recently added to or reduced their stakes in NEM. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont in the 1st quarter worth about $25,000. Clearstead Trust LLC acquired a new stake in shares of Newmont in the 2nd quarter valued at about $25,000. Kilter Group LLC bought a new position in shares of Newmont during the second quarter worth about $26,000. GoalVest Advisory LLC bought a new position in shares of Newmont during the third quarter worth about $28,000. Finally, Financial Management Professionals Inc. acquired a new position in Newmont in the third quarter worth about $30,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NEM shares. National Bank Financial lowered their price objective on Newmont from $140.00 to $135.00 and set a “sector perform” rating for the company in a report on Tuesday, October 20th. Freedom Broker downgraded Newmont from a “buy” rating to a “hold” rating and reduced their target price for the stock from $130.00 to $116.00 in a report on Thursday, October 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 target price (up from $131.00) on shares of Newmont in a report on Monday, August 24th. Scotiabank decreased their target price on Newmont from $149.00 to $148.00 and set an “outperform” rating for the company in a research report on Tuesday, October 27th. Finally, Barclays lowered their price target on Newmont from $124.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

Newmont Stock Performance

NEM opened at $109.03 on Tuesday. The business’s 50 day moving average is $120.16 and its 200-day moving average is $112.46. The stock has a market cap of $113.31 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. Newmont Corporation has a twelve month low of $78.60 and a twelve month high of $135.29.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.26. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the company posted $1.71 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, analysts predict that Newmont Corporation will post 9.11 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, November 25th. Newmont’s payout ratio is 12.09%.

Insiders Place Their Bets

In other news, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares in the company, valued at approximately $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 32,973 shares of company stock worth $3,646,819. 0.06% of the stock is owned by company insiders.

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.