9,110 Shares in Newmont Corporation $NEM Bought by Childress Capital Advisors LLC

Childress Capital Advisors LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM) in the third quarter, HoldingsChannel reports. The fund acquired 9,110 shares of the basic materials company’s stock, valued at approximately $1,051,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new position in shares of Newmont during the 1st quarter valued at approximately $25,000. GoalVest Advisory LLC bought a new stake in shares of Newmont in the third quarter worth $28,000. Financial Management Professionals Inc. bought a new stake in shares of Newmont in the third quarter worth $30,000. Clearstead Trust LLC bought a new stake in shares of Newmont in the second quarter worth $25,000. Finally, Kilter Group LLC acquired a new stake in Newmont in the second quarter valued at $26,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Trading Down 2.0%

Shares of NYSE NEM opened at $111.65 on Friday. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. The company has a market cap of $116.02 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51. Newmont Corporation has a 12-month low of $78.60 and a 12-month high of $135.29. The stock’s 50 day simple moving average is $121.04 and its 200 day simple moving average is $112.51.

Newmont (NYSE:NEM) last announced its quarterly 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. 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 quarter last year, the business earned $1.71 earnings per share. Newmont’s revenue was up 15.2% compared to the same quarter last year. Equities research analysts expect that Newmont Corporation will post 9.14 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be paid a $0.26 dividend. 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 0.9%. Newmont’s dividend payout ratio (DPR) is currently 12.09%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. TD Cowen reduced their price objective on shares of Newmont from $133.00 to $131.00 in a research note on Tuesday, October 20th. Weiss Ratings raised shares of Newmont from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Barclays dropped their target price on shares of Newmont from $124.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Scotiabank cut their target price on shares of Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $137.20.

Insider Buying and Selling

In related news, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s 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 completion of the transaction, the executive vice president owned 34,315 shares in the company, valued at $3,939,705.15. This represents a 8.04% decrease in their position. 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. In the last quarter, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is owned by corporate insiders.

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.