USA Financial Formulas Buys Shares of 10,628 Newmont Corporation $NEM

USA Financial Formulas purchased a new position in Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,628 shares of the basic materials company’s stock, valued at approximately $896,000.

A number of other hedge funds have also recently made changes to their positions in NEM. Brighton Jones LLC lifted its position in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Newmont by 75.7% during the 1st quarter. Wellington Management Group LLP now owns 318,247 shares of the basic materials company’s stock worth $15,365,000 after acquiring an additional 137,137 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Newmont by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,180,182 shares of the basic materials company’s stock valued at $298,380,000 after acquiring an additional 293,221 shares during the last quarter. Summit Financial LLC purchased a new stake in Newmont during the first quarter valued at approximately $467,000. Finally, CW Advisors LLC acquired a new stake in Newmont in the first quarter valued at approximately $205,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 11,240 shares of company stock valued at $943,985. Company insiders own 0.05% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $101.52 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The stock has a 50-day moving average of $89.13 and a two-hundred day moving average of $75.69. The stock has a market cap of $110.78 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.70 and a beta of 0.41. Newmont Corporation has a one year low of $36.86 and a one year high of $102.36.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% 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 prior year, the company earned $0.81 earnings per share. The company’s revenue was up 20.0% on a year-over-year basis. As a group, research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NEM. BNP Paribas downgraded Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target on the stock. in a research report on Friday, December 5th. Royal Bank Of Canada upped their target price on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Raymond James Financial set a $99.00 price target on Newmont and gave the stock an “outperform” rating in a report on Friday, October 24th. National Bankshares boosted their price target on Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Finally, BNP Paribas Exane downgraded shares of Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price objective on the stock. in a report on Friday, December 5th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $96.37.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.