22,270 Shares in Newmont Corporation $NEM Acquired by XML Financial LLC

XML Financial LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,270 shares of the basic materials company’s stock, valued at approximately $2,569,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. BlackRock Inc. bought a new position in Newmont during the 2nd quarter valued at $11,289,753,000. State Street Corp increased its position in shares of Newmont by 3.1% during the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after purchasing an additional 1,565,716 shares during the period. Van ECK Associates Corp bought a new stake in shares of Newmont in the 2nd quarter worth $671,197,000. Bank of New York Mellon Corp bought a new stake in shares of Newmont in the 2nd quarter worth $1,219,505,000. Finally, First Eagle Investment Management LLC acquired a new stake in shares of Newmont in the second quarter valued at $241,820,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NEM. TD Securities raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Scotiabank dropped their price target on shares of Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 27th. Royal Bank Of Canada upped their price target on shares of Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. The Goldman Sachs Group reduced their price objective on shares of Newmont from $127.50 to $119.00 in a research report on Thursday, October 8th. Finally, National Bank Financial lowered their price objective on shares of Newmont from $140.00 to $135.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $137.20.

Newmont Trading Up 2.3%

NYSE NEM opened at $109.03 on Tuesday. The firm’s 50 day moving average price is $120.16 and its two-hundred day moving average price is $112.46. The stock has a market cap of $113.31 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.07 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45. Newmont Corporation has a twelve month low of $78.60 and a twelve 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.26. The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.71 earnings per share. Equities analysts anticipate that Newmont Corporation will post 9.11 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is presently 12.09%.

Insider Buying and Selling at Newmont

In other news, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. The trade was a 5.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the sale, the executive vice president owned 34,315 shares of the company’s stock, valued at approximately $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. Insiders have sold 32,973 shares of company stock worth $3,646,819 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Newmont 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.