Newmont Corporation $NEM Shares Newly Acquired by Heathbridge Capital Management Ltd.

Heathbridge Capital Management Ltd. acquired a new stake in Newmont Corporation (NYSE:NEM) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 4,925 shares of the basic materials company’s stock, valued at approximately $568,000. Newmont accounts for approximately 0.2% of Heathbridge Capital Management Ltd.’s investment portfolio, making the stock its 24th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Cedar Mountain Advisors LLC acquired a new stake in shares of Newmont in the 1st quarter valued at approximately $25,000. Clearstead Trust LLC acquired a new position in shares of Newmont during the 2nd quarter worth $25,000. Kilter Group LLC acquired a new position in shares of Newmont during the 2nd quarter worth $26,000. GoalVest Advisory LLC acquired a new stake in shares of Newmont in the third quarter valued at about $28,000. Finally, Financial Management Professionals Inc. acquired a new position in Newmont during the third quarter worth about $30,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total value of $419,411.28. Following the sale, the chief executive officer directly owned 101,691 shares of the company’s stock, valued at approximately $10,986,695.64. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $324,120.00. Following the completion of the sale, the executive vice president owned 31,315 shares of the company’s stock, valued at approximately $3,383,272.60. The trade was a 8.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,646 shares of company stock worth $2,380,140 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NEM. Barclays decreased their price target on Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. TD Cowen lowered their price target on Newmont from $133.00 to $131.00 in a report on Tuesday, October 20th. Canaccord Genuity Group dropped their price objective on Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. TD lifted their price objective on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, Bank of America boosted their target price on Newmont from $135.00 to $145.00 in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

Newmont Price Performance

NEM stock opened at $107.48 on Wednesday. The stock has a market capitalization of $111.70 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.99 and a beta of 0.56. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 52-week low of $78.60 and a 52-week high of $135.29. The stock’s fifty day simple moving average is $119.68 and its 200-day simple moving average is $112.42.

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

Newmont Announces Dividend

The business 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 dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 25th. Newmont’s dividend 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.