41,450 Shares of Newmont Corporation $NEM Bought by Strengthening Families & Communities LLC

Key Points

• Strengthening Families & Communities LLC acquired 41,450 Newmont shares worth approximately $4.8 million, while institutional investors and hedge funds collectively own 68.85% of the company.
• Newmont shares fell 0.3% to $116.41, below their 50-day moving average but above the 200-day average. The company reported quarterly EPS of $2.10, exceeding analyst estimates, and maintains a quarterly dividend of $0.26.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $133.92, although insiders sold 35,973 shares worth roughly $3.9 million during the quarter.

Strengthening Families & Communities LLC bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 41,450 shares of the basic materials company's stock, valued at approximately $4,781,000. Newmont makes up about 1.0% of Strengthening Families & Communities LLC's investment portfolio, making the stock its 25th largest position.

Several other hedge funds also recently modified their holdings of NEM. BlackRock Inc. acquired a new position in shares of Newmont in the second quarter valued at approximately $11,289,753,000. State Street Corp grew its stake 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 worth $4,893,852,000 after acquiring an additional 1,565,716 shares during the period. Van ECK Associates Corp acquired a new position in Newmont in the 2nd quarter valued at $671,197,000. Bank of New York Mellon Corp purchased a new position in shares of Newmont during the 2nd quarter worth $1,219,505,000. Finally, First Eagle Investment Management LLC purchased a new position in shares of Newmont during the 2nd quarter worth $241,820,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 0.3%

NYSE:NEM traded down $0.40 on Wednesday, hitting $116.41. 2,160,704 shares of the stock were exchanged, compared to its average volume of 8,502,756. The stock has a fifty day moving average of $122.07 and a 200-day moving average of $110.98. The stock has a market cap of $122.66 billion, a PE ratio of 14.69, a PEG ratio of 2.19 and a beta of 0.51. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. Newmont Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The business had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the previous year, the company posted $1.43 EPS. As a group, equities analysts expect that Newmont Corporation will post 9.04 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were issued a $0.26 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont's dividend payout ratio (DPR) is presently 13.13%.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the sale, the executive vice president owned 34,315 shares of the company's stock, valued at $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 35,973 shares of company stock worth $3,927,169. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

NEM has been the subject of a number of recent analyst reports. Barclays lowered their price objective on Newmont from $124.00 to $123.00 and set an "overweight" rating for the company in a research report on Monday. TD raised their price target on Newmont from $127.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Wall Street Zen lowered Newmont from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. The Goldman Sachs Group lowered their price target on Newmont from $122.50 to $111.40 and set a "buy" rating for the company in a report on Wednesday, July 1st. Finally, Canadian Imperial Bank of Commerce set a $154.00 price objective on shares of Newmont in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $133.92.

Newmont Profile

Newmont Corporation NYSE: NEM is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world's largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.

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