10,443 Shares in Newmont Corporation $NEM Purchased by Gryphon Financial Partners LLC

Key Points

• Gryphon Financial Partners acquired 10,443 Newmont shares in the third quarter, valued at about $1.2 million. Hedge funds and other institutional investors own 68.85% of the company’s stock.
• Newmont beat quarterly earnings expectations, reporting $2.20 per share versus the $1.94 consensus, while revenue rose 15.2% year over year to $6.36 billion.
• Analysts rate the stock a consensus Moderate Buy, with an average price target of $137.20; Newmont also declared a quarterly dividend of $0.26 per share.

Gryphon Financial Partners LLC acquired a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,443 shares of the basic materials company's stock, valued at approximately $1,204,000.

A number of other hedge funds have also modified their holdings of NEM. GoalVest Advisory LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $28,000. Financial Management Professionals Inc. purchased a new stake in Newmont in the 3rd quarter valued at $30,000. Clearstead Trust LLC acquired a new stake in Newmont during the 2nd quarter worth $25,000. Signature Equity Partners LLC acquired a new stake in Newmont during the 3rd quarter worth $32,000. Finally, Kilter Group LLC purchased a new position in Newmont during the 2nd quarter worth $26,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NEM opened at $125.13 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45. The stock has a market capitalization of $130.03 billion, a P/E ratio of 14.55, a P/E/G ratio of 2.15 and a beta of 0.56. The company's fifty day moving average is $118.81 and its two-hundred day moving average is $112.51. 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, topping analysts' consensus estimates of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The company had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the prior year, the firm earned $1.71 EPS. Newmont's quarterly revenue was up 15.2% on a year-over-year basis. On average, sell-side analysts predict that Newmont Corporation will post 9.14 earnings per share for the current year.

Newmont Announces Dividend

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

Insider Activity

In related news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total transaction of $477,486.00. Following the completion of the transaction, the chief executive officer directly owned 131,353 shares of the company's stock, valued at $16,156,419. This represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $324,120.00. Following the completion of the sale, the executive vice president owned 31,315 shares of the company's stock, valued at approximately $3,383,272.60. The trade was a 8.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,646 shares of company stock valued at $2,380,140 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their price objective on shares of Newmont from $135.00 to $155.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. Raymond James Financial reiterated an "outperform" rating and set a $140.00 target price (up from $131.00) on shares of Newmont in a research note on Monday, August 24th. Barclays dropped their price target on Newmont from $124.00 to $123.00 and set an "overweight" rating on the stock in a research report on Monday, October 19th. Jefferies Financial Group upped their price objective on Newmont from $146.00 to $155.00 in a research note on Friday, October 9th. Finally, Sanford C. Bernstein increased their price objective on Newmont from $144.00 to $150.00 in a research report on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average price target of $137.20.

About Newmont

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