Greg Jennings LLC Buys 8,563 Shares of Newmont Corporation $NEM

Greg Jennings LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,563 shares of the basic materials company’s stock, valued at approximately $988,000. Newmont comprises approximately 0.7% of Greg Jennings LLC’s portfolio, making the stock its 29th biggest position.

Several other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new stake in Newmont in the second quarter valued at about $36,180,000. Asset One Wealth Management LLC bought a new position in Newmont during the second quarter worth about $2,866,000. Private Advisory Group LLC bought a new position in Newmont during the second quarter worth about $10,430,000. Commerce Bank acquired a new position in shares of Newmont during the 2nd quarter worth about $3,418,000. Finally, Capital Financial Group Inc. Co. ADV acquired a new position in shares of Newmont during the 2nd quarter worth about $1,135,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NEM shares. Argus set a $110.00 price target on shares of Newmont in a research report on Monday, August 3rd. Scotiabank boosted their price objective on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Canadian Imperial Bank of Commerce set a $154.00 target price on shares of Newmont in a research note on Friday. Finally, BNP Paribas Exane cut their target price on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.45.

Newmont Trading Down 0.5%

Shares of Newmont stock traded down $0.57 during trading hours on Monday, hitting $118.03. The company’s stock had a trading volume of 5,040,061 shares, compared to its average volume of 8,555,714. Newmont Corporation has a 12 month low of $76.05 and a 12 month high of $135.29. The stock has a 50 day moving average of $122.06 and a 200 day moving average of $110.89. The company has a market capitalization of $124.37 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter last year, the firm posted $1.43 earnings per share. Analysts predict that Newmont Corporation will post 9.05 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont’s dividend payout ratio is presently 13.13%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s 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 sale, the executive vice president directly owned 34,315 shares in the company, valued at approximately $3,939,705.15. This trade represents a 8.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 35,973 shares of company stock worth $3,927,169. Company insiders own 0.06% of the company’s stock.

About Newmont

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.