5,726 Shares of Newmont Corporation $NEM Bought by Total Clarity Wealth Management Inc.

Total Clarity Wealth Management Inc. purchased a new stake in shares of Newmont Corporation (NYSE:NEM) in the third quarter, HoldingsChannel reports. The firm purchased 5,726 shares of the basic materials company’s stock, valued at approximately $660,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NEM. BlackRock Inc. acquired a new position in shares of Newmont in the 2nd quarter worth approximately $11,289,753,000. State Street Corp increased its holdings in Newmont by 3.1% in 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 last quarter. Bank of New York Mellon Corp increased its holdings in Newmont by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock valued at $1,324,757,000 after purchasing an additional 615,461 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Newmont by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock valued at $1,012,792,000 after purchasing an additional 184,586 shares during the period. Finally, Amundi raised its position in Newmont by 4.4% in the first quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock valued at $950,519,000 after purchasing an additional 372,415 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NEM opened at $113.89 on Thursday. Newmont Corporation has a fifty-two week low of $78.60 and a fifty-two week high of $135.29. The firm’s 50 day moving average price is $121.31 and its 200 day moving average price is $112.50. The company has a market cap of $118.36 billion, a P/E ratio of 13.24, a PEG ratio of 2.01 and a beta of 0.51. 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 (NYSE:NEM) last released its 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. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The company had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the business earned $1.71 EPS. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. On average, research analysts forecast that Newmont Corporation will post 9.11 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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 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 dividend yield of 0.9%. Newmont’s dividend payout ratio is currently 12.09%.

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $445,692.42. Following the sale, the chief executive officer owned 127,471 shares of the company’s stock, valued at approximately $14,634,945.51. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on NEM. Scotiabank decreased their price target on Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a research note on Tuesday. BNP Paribas Exane lifted their price objective on Newmont from $102.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, August 17th. TD boosted their price objective on Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Royal Bank Of Canada boosted their price objective on Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Finally, Bank of America increased their target price on Newmont from $135.00 to $145.00 in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

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.