5,450 Shares of Newmont Corporation $NEM Purchased by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. acquired a new stake in Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,450 shares of the basic materials company’s stock, valued at approximately $629,000.

Other institutional investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC purchased a new stake in shares of Newmont during the first quarter worth $25,000. GoalVest Advisory LLC purchased a new position in Newmont in the third quarter valued at $28,000. Financial Management Professionals Inc. purchased a new position in Newmont in the third quarter valued at $30,000. Clearstead Trust LLC acquired a new position in Newmont during the 2nd quarter worth $25,000. Finally, Kilter Group LLC acquired a new position in Newmont during the 2nd quarter worth $26,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $445,692.42. Following the completion of the transaction, the chief executive officer directly owned 127,471 shares of the company’s stock, valued at $14,634,945.51. This represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the transaction, the executive vice president owned 34,315 shares in the company, valued at $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 35,973 shares of company stock valued at $3,927,169. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $106.60 on Friday. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $120.62 and a 200 day moving average price of $112.48. The company has a market cap of $110.78 billion, a P/E ratio of 12.40, a PEG ratio of 2.04 and a beta of 0.51. 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 analysts’ consensus estimates of $1.94 by $0.26. The company had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. Newmont’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the firm earned $1.71 earnings per share. Sell-side analysts predict that Newmont Corporation will post 9.11 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD upped their price target on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Royal Bank Of Canada lifted their price objective on Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. The Goldman Sachs Group lowered their price objective on Newmont from $127.50 to $119.00 in a research report on Thursday, October 8th. Argus set a $110.00 target price on shares of Newmont and gave the stock a “buy” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.20.

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.