Bard Financial Services Inc. Buys 5,300 Shares of Newmont Corporation $NEM

Bard Financial Services Inc. lifted its stake in Newmont Corporation (NYSE:NEM) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 121,430 shares of the basic materials company’s stock after buying an additional 5,300 shares during the period. Newmont comprises 1.1% of Bard Financial Services Inc.’s portfolio, making the stock its 25th biggest holding. Bard Financial Services Inc.’s holdings in Newmont were worth $10,238,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Apella Capital LLC bought a new position in shares of Newmont during the 3rd quarter worth approximately $178,000. Apollon Wealth Management LLC raised its stake in Newmont by 42.2% during the third quarter. Apollon Wealth Management LLC now owns 31,448 shares of the basic materials company’s stock worth $2,651,000 after acquiring an additional 9,336 shares in the last quarter. One Plus One Wealth Management LLC bought a new position in shares of Newmont during the third quarter valued at $345,000. Ellsworth Advisors LLC lifted its holdings in shares of Newmont by 4.9% during the third quarter. Ellsworth Advisors LLC now owns 24,373 shares of the basic materials company’s stock valued at $2,281,000 after acquiring an additional 1,146 shares during the period. Finally, Burns Matteson Capital Management LLC acquired a new stake in shares of Newmont in the 3rd quarter valued at $314,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 11,240 shares of company stock worth $943,985. Insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on NEM. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $71.50 to $114.00 in a report on Thursday, October 23rd. Argus boosted their price objective on Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. BNP Paribas Exane cut Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price target for the company. in a report on Friday, December 5th. Finally, National Bankshares raised their price objective on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Five 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 stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $96.37.

Newmont Price Performance

Shares of NYSE NEM opened at $105.79 on Friday. The company has a fifty day moving average price of $90.38 and a 200 day moving average price of $77.49. The firm has a market cap of $115.44 billion, a PE ratio of 16.43, a PEG ratio of 0.74 and a beta of 0.41. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $106.34.

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

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were paid a $0.25 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Newmont’s dividend payout ratio is 15.53%.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.