92,103 Shares in Newmont Corporation $NEM Bought by Strategic Planning Group LLC

Strategic Planning Group LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 92,103 shares of the basic materials company’s stock, valued at approximately $7,765,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Concord Wealth Partners increased its stake in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares during the period. Evermay Wealth Management LLC grew its holdings in Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares in the last quarter. Capital A Wealth Management LLC increased its position in shares of Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 478 shares during the last quarter. Caldwell Trust Co acquired a new stake in shares of Newmont in the 2nd quarter valued at $31,000. Finally, Country Trust Bank purchased a new stake in shares of Newmont during the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,160 shares of company stock valued at $767,206 in the last 90 days. Company insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NEM shares. UBS Group raised their price target on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Bank of America raised their target price on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. CIBC set a $112.00 price target on Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. Finally, Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $97.08.

Newmont Stock Down 1.1%

NEM opened at $108.04 on Thursday. Newmont Corporation has a 52 week low of $38.11 and a 52 week high of $109.30. The business has a 50 day moving average price of $93.29 and a two-hundred day moving average price of $80.04. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The company has a market cap of $117.90 billion, a PE ratio of 16.78, a P/E/G ratio of 0.84 and a beta of 0.41.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.44. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company’s revenue was up 20.0% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. As a group, research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

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.