8,563 Shares of Newmont Corporation $NEM Bought by Greg Jennings LLC

Key Points

• Greg Jennings LLC acquired 8,563 Newmont shares worth approximately $988,000 in the third quarter, making Newmont its 29th-largest holding. Institutional investors and hedge funds collectively own 68.85% of the company.
• Newmont insiders sold 35,973 shares valued at about $3.93 million over the past 90 days, including sales by CEO Natascha Viljoen and EVP Peter Toth under pre-arranged Rule 10b5-1 plans.
• Newmont reported quarterly EPS of $2.10, topping estimates, and pays a quarterly dividend of $0.26. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $133.45, versus a recent share price of $118.03.

Greg Jennings LLC acquired a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,563 shares of the basic materials company's stock, valued at approximately $988,000. Newmont accounts for 0.7% of Greg Jennings LLC's portfolio, making the stock its 29th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Newmont by 0.6% during the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company's stock worth $1,861,000 after purchasing an additional 100 shares in the last quarter. Accel Wealth Management lifted its position in Newmont by 0.8% in the second quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company's stock worth $1,377,000 after purchasing an additional 115 shares during the period. Bell Investment Advisors Inc lifted its position in Newmont by 41.8% in the first quarter. Bell Investment Advisors Inc now owns 397 shares of the basic materials company's stock worth $43,000 after purchasing an additional 117 shares during the period. Compound Planning Inc. boosted its stake in Newmont by 0.6% during the first quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company's stock worth $2,294,000 after buying an additional 121 shares in the last quarter. Finally, Zhang Financial LLC boosted its stake in Newmont by 0.8% during the first quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company's stock worth $1,707,000 after buying an additional 124 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares of the company's stock, valued at $14,064,440. This represents a 5.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction 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. The trade was a 8.04% 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 35,973 shares of company stock valued at $3,927,169 over the last ninety days. 0.06% of the stock is owned by insiders.

Newmont Price Performance

NYSE NEM traded down $0.57 during trading hours on Monday, reaching $118.03. 5,040,061 shares of the company's stock were exchanged, compared to its average volume of 8,555,714. The stock has a market cap of $124.37 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51. Newmont Corporation has a one year low of $76.05 and a one year high of $135.29. The firm has a fifty day moving average of $122.06 and a 200-day moving average of $110.89. 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 (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%. During the same quarter in the previous year, the company posted $1.43 EPS. On average, equities research analysts predict that Newmont Corporation will post 9.05 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont's payout ratio is currently 13.13%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NEM. National Bank Financial increased their price objective on shares of Newmont from $120.00 to $140.00 and gave the company a "sector perform" rating in a research note on Monday, September 21st. Barclays decreased their target price on shares of Newmont from $124.00 to $123.00 and set an "overweight" rating on the stock in a research report on Monday. Canadian Imperial Bank of Commerce set a $154.00 target price on shares of Newmont in a research report on Friday. Weiss Ratings raised shares of Newmont from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday. Finally, Wall Street Zen lowered shares of Newmont from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and an average target price of $133.45.

Newmont Company 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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