Newmont Corporation $NEM Shares Newly Bought by VestGen Advisors LLC

VestGen Advisors LLC bought a new position in Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,647 shares of the basic materials company’s stock, valued at approximately $1,459,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. BlackRock Inc. bought a new position in shares of Newmont in the second quarter worth about $11,289,753,000. Van ECK Associates Corp purchased a new stake in Newmont during the second quarter valued at approximately $671,197,000. Bank of New York Mellon Corp bought a new stake in Newmont in the second quarter worth $1,219,505,000. First Eagle Investment Management LLC purchased a new position in Newmont during the second quarter worth $241,820,000. Finally, Amundi purchased a new stake in shares of Newmont in the second quarter valued at $209,411,000. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on NEM shares. Canaccord Genuity Group dropped their price target on shares of Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Royal Bank Of Canada raised their price target on Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. BNP Paribas Exane boosted their price objective on Newmont from $102.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, August 17th. Jefferies Financial Group raised their target price on shares of Newmont from $146.00 to $155.00 in a research report on Friday, October 9th. Finally, Freedom Broker downgraded Newmont from a “buy” rating to a “hold” rating and decreased their price objective for the company from $130.00 to $116.00 in a report on Thursday, October 22nd. Two 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.20.

Newmont Trading Down 4.7%

Shares of NYSE:NEM opened at $106.60 on Friday. The business’s 50-day moving average is $120.62 and its 200 day moving average is $112.48. Newmont Corporation has a 1 year low of $78.60 and a 1 year high of $135.29. The firm has a market capitalization of $110.78 billion, a P/E ratio of 12.40, a P/E/G ratio of 2.04 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $6.27 billion. During the same quarter last year, the company earned $1.71 earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. On average, research analysts predict that Newmont Corporation will post 9.11 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s payout ratio is currently 12.09%.

Insiders Place Their Bets

In other news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value 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 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, EVP Peter Toth sold 3,000 shares of the company’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 $344,430.00. Following the completion of the sale, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. This represents a 8.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 35,973 shares of company stock valued at $3,927,169. Insiders own 0.06% of the company’s stock.

Newmont 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.