Newmont Corporation $NEM Shares Sold by Donoghue Forlines LLC

Donoghue Forlines LLC lowered its position in Newmont Corporation (NYSE:NEM) by 45.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,695 shares of the basic materials company’s stock after selling 22,999 shares during the quarter. Newmont makes up approximately 0.7% of Donoghue Forlines LLC’s portfolio, making the stock its 22nd biggest position. Donoghue Forlines LLC’s holdings in Newmont were worth $2,335,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. raised its position in Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 139 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its stake 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 valued at $566,000 after purchasing an additional 145 shares during the period. Welch Group LLC raised its holdings 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 valued at $1,027,000 after buying an additional 153 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in shares of Newmont by 3.8% during the third quarter. Resonant Capital Advisors LLC now owns 4,401 shares of the basic materials company’s stock worth $371,000 after buying an additional 163 shares during the period. Finally, Hemington Wealth Management grew its holdings in shares of Newmont by 17.6% during 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 last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’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 sale, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,160 shares of company stock worth $767,206 over the last 90 days. Company insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $120.00 price objective on shares of Newmont in a research note on Sunday, December 7th. BNP Paribas cut Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target for the company. in a research note on Friday, December 5th. Raymond James Financial lifted their price objective on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday. Bank of America upped their price objective on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, TD Securities lifted their target price on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Newmont currently has a consensus rating of “Buy” and an average target price of $99.35.

Newmont Trading Down 0.0%

Shares of NEM opened at $114.17 on Friday. Newmont Corporation has a twelve month low of $40.85 and a twelve month high of $115.70. The firm has a market capitalization of $124.59 billion, a P/E ratio of 17.73, a PEG ratio of 0.85 and a beta of 0.41. The firm’s 50-day moving average is $97.58 and its two-hundred day moving average is $82.68. 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 (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

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.