Newmont Corporation $NEM Shares Newly Acquired by Skylands Capital LLC

Skylands Capital LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 38,090 shares of the basic materials company’s stock, valued at approximately $4,393,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of Newmont by 0.6% in the first quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock worth $1,861,000 after acquiring an additional 100 shares in the last quarter. Accel Wealth Management lifted its position in shares of Newmont by 0.8% in the 2nd quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company’s stock valued at $1,377,000 after acquiring an additional 115 shares in the last quarter. Bell Investment Advisors Inc lifted its position in shares of Newmont by 41.8% in the 1st quarter. Bell Investment Advisors Inc now owns 397 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 117 shares in the last quarter. Compound Planning Inc. lifted its position in shares of Newmont by 0.6% in the 1st quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock valued at $2,294,000 after acquiring an additional 121 shares in the last quarter. Finally, Zhang Financial LLC boosted its stake in Newmont by 0.8% in the 1st quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company’s stock worth $1,707,000 after purchasing an additional 124 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 0.2%

NYSE:NEM opened at $117.09 on Thursday. 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 Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29. The stock’s 50-day moving average is $122.06 and its two-hundred day moving average is $111.00. The stock has a market cap of $123.37 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 2.16 and a beta of 0.51.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period last year, the company posted $1.43 earnings per share. As a group, equities research analysts forecast that Newmont Corporation will post 9.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction 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 completion of the sale, the executive vice president owned 34,315 shares of the company’s stock, valued at $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 available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares in the company, valued at approximately $14,064,440. This represents a 5.43% 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. In the last quarter, insiders have sold 35,973 shares of company stock worth $3,927,169. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NEM. TD lifted their price objective on shares of Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. BMO Capital Markets boosted their target price on shares of Newmont from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, September 29th. Canaccord Genuity Group reduced their target price on Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Canadian Imperial Bank of Commerce set a $154.00 target price on Newmont in a research report on Friday, October 16th. Finally, Argus set a $110.00 target price on Newmont in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.92.

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.