Total Clarity Wealth Management Inc. Makes New Investment in Newmont Corporation $NEM

Total Clarity Wealth Management Inc. bought a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,726 shares of the basic materials company’s stock, valued at approximately $660,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Penobscot Investment Management Company Inc. purchased a new position in Newmont in the 3rd quarter worth approximately $206,000. Oppenheimer & Co. Inc. acquired a new position in shares of Newmont during the 3rd quarter worth approximately $18,946,000. Center for Financial Planning Inc. boosted its holdings in shares of Newmont by 6.7% during the 3rd quarter. Center for Financial Planning Inc. now owns 1,921 shares of the basic materials company’s stock worth $222,000 after purchasing an additional 121 shares during the last quarter. Ballast Rock Private Wealth LLC purchased a new stake in shares of Newmont in the third quarter valued at approximately $468,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of Newmont in the third quarter valued at approximately $8,594,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the sale, the executive vice president owned 34,315 shares of the company’s stock, valued at $3,939,705.15. This trade represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value 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. This represents a 28.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 35,973 shares of company stock worth $3,927,169. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of several recent research reports. TD Securities raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Canaccord Genuity Group lowered their price objective on Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Raymond James Financial restated an “outperform” rating and issued a $140.00 target price (up from $131.00) on shares of Newmont in a report on Monday, August 24th. Finally, Freedom Broker downgraded Newmont from a “buy” rating to a “hold” rating and cut their target price for the stock from $130.00 to $116.00 in a research note on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.20.

Newmont Price Performance

Shares of NEM stock opened at $113.89 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16. The company has a market capitalization of $118.36 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 2.01 and a beta of 0.51. The firm’s 50-day moving average is $121.31 and its two-hundred day moving average is $112.50. Newmont Corporation has a 12 month low of $78.60 and a 12 month high of $135.29.

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

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders 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 dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s payout ratio is presently 12.09%.

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.