CHICAGO TRUST Co NA Makes New $3.09 Million Investment in Newmont Corporation $NEM

Key Points

• CHICAGO TRUST Co NA purchased 26,796 Newmont shares worth approximately $3.09 million in the third quarter. Institutional investors now own 68.85% of the company.
• Analysts maintain a generally positive outlook, with Newmont receiving a “Moderate Buy” consensus rating and an average price target of $137.20.
• Newmont reported quarterly earnings of $2.20 per share, exceeding estimates, while revenue rose 15.2% year over year to $6.36 billion. The company also declared a quarterly dividend of $0.26 per share.

CHICAGO TRUST Co NA purchased a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,796 shares of the basic materials company's stock, valued at approximately $3,091,000.

A number of other hedge funds have also bought and sold shares of the business. Cedar Mountain Advisors LLC bought a new position in shares of Newmont in the first quarter worth about $25,000. Clearstead Trust LLC bought a new stake in shares of Newmont in the second quarter worth $25,000. Kilter Group LLC bought a new position in shares of Newmont during the second quarter worth about $26,000. GoalVest Advisory LLC acquired a new position in shares of Newmont in the third quarter worth approximately $28,000. Finally, Financial Management Professionals Inc. acquired a new position in shares of Newmont in the third quarter worth approximately $30,000. 68.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NEM has been the subject of several analyst reports. Argus set a $110.00 price target on shares of Newmont and gave the stock a "buy" rating in a report on Monday, August 3rd. BNP Paribas Exane upped their price objective on shares of Newmont from $102.00 to $112.00 and gave the company a "neutral" rating in a research note on Monday, August 17th. Scotiabank lowered their price objective on Newmont from $149.00 to $148.00 and set an "outperform" rating for the company in a research report on Tuesday. Weiss Ratings upgraded Newmont from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 16th. Finally, BMO Capital Markets lifted their price objective on shares of Newmont from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, September 29th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $137.20.

Insider Transactions at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the business's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $445,692.42. Following the sale, the chief executive officer directly owned 127,471 shares in the company, valued at approximately $14,634,945.51. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was 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 directly owned 34,315 shares of the company's stock, valued at approximately $3,939,705.15. The trade was a 8.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is currently owned by insiders.

Newmont Trading Down 4.7%

Shares of NEM opened at $106.60 on Friday. The firm has a market cap of $110.78 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 2.04 and a beta of 0.51. The firm has a 50 day moving average price of $120.62 and a 200-day moving average price of $112.48. Newmont Corporation has a fifty-two week low of $78.60 and a fifty-two week high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.26. The company had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The firm's revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.71 EPS. As a group, equities research analysts forecast that Newmont Corporation will post 9.11 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, November 25th. Newmont's dividend payout ratio is presently 12.09%.

About Newmont

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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