BCS Private Wealth Management Inc. Acquires 5,632 Shares of Newmont Corporation $NEM

BCS Private Wealth Management Inc. raised its holdings in shares of Newmont Corporation (NYSE:NEM) by 9.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,908 shares of the basic materials company’s stock after acquiring an additional 5,632 shares during the quarter. Newmont makes up 2.0% of BCS Private Wealth Management Inc.’s portfolio, making the stock its 11th largest holding. BCS Private Wealth Management Inc.’s holdings in Newmont were worth $5,557,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its holdings in Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 139 shares during the period. Summit Financial Wealth Advisors LLC increased its position in Newmont by 2.3% in the third quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock worth $566,000 after buying an additional 145 shares in the last quarter. Welch Group LLC raised its stake in shares of Newmont by 1.3% in the third quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock worth $1,027,000 after buying an additional 153 shares during the period. Hemington Wealth Management raised its stake in shares of Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after buying an additional 170 shares during the period. Finally, IVC Wealth Advisors LLC lifted its position in shares of Newmont by 1.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock valued at $813,000 after buying an additional 173 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, 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 value of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 9,160 shares of company stock worth $767,206. 0.05% of the stock is owned by insiders.

Newmont Price Performance

Newmont stock opened at $114.14 on Thursday. Newmont Corporation has a 52-week low of $40.35 and a 52-week high of $115.70. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm’s fifty day moving average is $96.33 and its 200 day moving average is $81.90. The company has a market cap of $124.55 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.85 and a beta of 0.41.

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

Newmont Dividend Announcement

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

Analysts Set New Price Targets

NEM has been the subject of a number of analyst reports. Argus increased their price objective on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Royal Bank Of Canada increased their price target on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. National Bankshares raised 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. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Newmont presently has an average rating of “Buy” and an average target price of $97.08.

Newmont Company Profile

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.