Choreo LLC Buys 2,171 Shares of Newmont Corporation $NEM

Choreo LLC lifted its position in shares of Newmont Corporation (NYSE:NEM) by 16.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,995 shares of the basic materials company’s stock after buying an additional 2,171 shares during the period. Choreo LLC’s holdings in Newmont were worth $874,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Concord Wealth Partners grew its stake in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares in the last quarter. Evermay Wealth Management LLC boosted its holdings in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares during the last quarter. Country Trust Bank bought a new position in shares of Newmont in the second quarter valued at $32,000. Colonial Trust Advisors increased its holdings in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after buying an additional 429 shares during the last quarter. Finally, Financial Management Professionals Inc. raised its position in Newmont by 274.1% during the second quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 444 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NEM shares. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Citigroup upped their price objective on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. BNP Paribas downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Royal Bank Of Canada boosted their target price on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Tuesday, November 25th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $91.20.

Newmont Stock Performance

NYSE:NEM opened at $90.65 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $86.28 and a 200 day simple moving average of $71.38. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The stock has a market cap of $98.93 billion, a P/E ratio of 14.08, a PEG ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 EPS. Research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont’s payout ratio is currently 15.53%.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the transaction, the director owned 34,789 shares in the company, valued at $2,816,517.44. This represents a 5.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,237 shares of company stock valued at $906,799 in the last three months. Insiders own 0.05% of the company’s stock.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.