103,572 Shares in Newmont Corporation $NEM Bought by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services initiated a position in Newmont, buying 103,572 shares worth about $11.95 million in the third quarter. Institutional investors collectively own 68.85% of the company.
• Newmont reported quarterly earnings of $2.20 per share, beating estimates of $1.94, while revenue rose 15.2% year over year to $6.36 billion.
• Analysts give Newmont a consensus “Moderate Buy” rating and an average price target of $137.20. The company also declared a quarterly dividend of $0.26 per share.

Kestra Advisory Services LLC bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 103,572 shares of the basic materials company's stock, valued at approximately $11,946,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Newmont in the 2nd quarter valued at about $11,289,753,000. State Street Corp raised its holdings in Newmont by 3.1% in the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company's stock valued at $4,893,852,000 after acquiring an additional 1,565,716 shares during the period. Van ECK Associates Corp acquired a new stake in Newmont during the second quarter worth approximately $671,197,000. Bank of New York Mellon Corp acquired a new stake in Newmont during the second quarter worth approximately $1,219,505,000. Finally, First Eagle Investment Management LLC bought a new stake in shares of Newmont during the second quarter worth approximately $241,820,000. Institutional investors own 68.85% of the company's stock.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $419,411.28. Following the transaction, the chief executive officer directly owned 101,691 shares of the company's stock, valued at $10,986,695.64. This represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $324,120.00. Following the sale, the executive vice president owned 31,315 shares of the company's stock, valued at $3,383,272.60. This trade represents a 8.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,646 shares of company stock worth $2,380,140 in the last 90 days. Company insiders own 0.06% of the company's stock.

Newmont Stock Performance

NYSE NEM opened at $125.13 on Tuesday. The firm's 50 day simple moving average is $118.81 and its 200 day simple moving average is $112.51. The firm has a market capitalization of $130.03 billion, a price-to-earnings ratio of 14.55, a P/E/G ratio of 2.15 and a beta of 0.56. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 1 year low of $81.34 and a 1 year high of $135.29.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the previous year, the business earned $1.71 earnings per share. The company's revenue was up 15.2% on a year-over-year basis. As a group, research analysts expect that Newmont Corporation will post 9.14 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 annualized dividend and a yield of 0.8%. Newmont's dividend payout ratio is presently 12.09%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NEM shares. Scotiabank dropped their target price on Newmont from $149.00 to $148.00 and set an "outperform" rating for the company in a report on Tuesday, October 27th. TD increased their target price on shares of Newmont from $127.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Freedom Broker cut shares of Newmont from a "buy" rating to a "hold" rating and lowered their target price for the stock from $130.00 to $116.00 in a report on Thursday, October 22nd. BNP Paribas Exane raised their target price on shares of Newmont from $102.00 to $112.00 and gave the stock a "neutral" rating in a report on Monday, August 17th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price target (up from $131.00) on shares of Newmont in a research note on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $137.20.

About Newmont

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