Peterson Wealth Services Has $212,000 Stock Position in Newmont Corporation $NEM

Peterson Wealth Services decreased its stake in Newmont Corporation (NYSE:NEM) by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,643 shares of the basic materials company’s stock after selling 446 shares during the period. Peterson Wealth Services’ holdings in Newmont were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Hemington Wealth Management increased its holdings in Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 170 shares during the last quarter. IVC Wealth Advisors LLC increased its stake in shares of Newmont by 1.3% in the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock valued at $813,000 after acquiring an additional 173 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Newmont by 11.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 185 shares during the period. Aaron Wealth Advisors LLC boosted its stake in Newmont by 4.4% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock worth $260,000 after acquiring an additional 190 shares during the last quarter. Finally, Chelsea Counsel Co. grew its holdings in Newmont by 1.0% during the second quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock valued at $1,067,000 after purchasing an additional 190 shares during the period. 68.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NEM has been the subject of a number of recent analyst reports. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Stifel Nicolaus initiated coverage on Newmont in a report on Wednesday, July 9th. They set a “buy” rating and a $73.00 price objective on the stock. BNP Paribas Exane increased their target price on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Raymond James Financial set a $99.00 price target on shares of Newmont and gave the company an “outperform” rating in a research note on Friday. Finally, Wall Street Zen raised shares of Newmont from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $90.59.

Newmont Trading Down 6.4%

Newmont stock opened at $83.25 on Friday. The stock has a 50-day simple moving average of $81.17 and a 200 day simple moving average of $65.41. The stock has a market capitalization of $91.45 billion, a P/E ratio of 12.93, a PEG ratio of 0.60 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.69% and a net margin of 33.42%.The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the firm earned $0.81 EPS. The firm’s revenue was up 20.0% compared to the same quarter last year. Analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio is presently 15.53%.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,249 shares of company stock worth $1,132,065. Corporate insiders own 0.05% of the company’s stock.

About Newmont

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.