8,493 Shares in Newmont Corporation $NEM Bought by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated bought a new position in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,493 shares of the basic materials company’s stock, valued at approximately $716,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NEM. Concord Wealth Partners lifted its holdings in shares of Newmont by 534.7% during the 2nd 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 increased its stake in Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares in the last quarter. Capital A Wealth Management LLC raised its holdings in Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after buying an additional 478 shares during the period. Caldwell Trust Co bought a new position in Newmont in the second quarter valued at approximately $31,000. Finally, Country Trust Bank bought a new position in Newmont in the second quarter valued at approximately $32,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research reports. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $71.50 to $114.00 in a research report on Thursday, October 23rd. Royal Bank Of Canada upped their target price on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. BNP Paribas cut Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a report on Friday, December 5th. National Bankshares boosted their price target on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $97.08.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction 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 owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,160 shares of company stock worth $767,206 in the last ninety days. Insiders own 0.05% of the company’s stock.

Newmont Stock Up 1.4%

Shares of NEM stock opened at $101.23 on Friday. The firm’s fifty day moving average price is $91.62 and its two-hundred day moving average price is $79.02. 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 $37.68 and a 1 year high of $106.34. The firm has a market capitalization of $110.46 billion, a P/E ratio of 15.72, a PEG ratio of 0.61 and a beta of 0.41.

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

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is currently 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.