Newmont Corporation $NEM Shares Newly Bought by Choreo LLC

Key Points

• Choreo LLC bought 21,091 Newmont shares in the third quarter, valued at approximately $2.43 million. Institutional investors collectively own 68.85% of Newmont’s stock.
• Newmont exceeded quarterly expectations, reporting $2.20 in adjusted earnings per share versus the $1.94 consensus estimate, while revenue rose 15.2% year over year to $6.36 billion.
• The company declared a quarterly dividend of $0.26 per share, or $1.04 annualized, representing a 1.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $137.20.

Choreo LLC bought a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 21,091 shares of the basic materials company's stock, valued at approximately $2,433,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NEM. Childress Capital Advisors LLC bought a new position in Newmont in the 3rd quarter valued at approximately $1,051,000. D.A. Davidson & CO. purchased a new stake in Newmont during the 3rd quarter valued at $3,197,000. BOKF NA increased its holdings in shares of Newmont by 10.5% in the 3rd quarter. BOKF NA now owns 79,113 shares of the basic materials company's stock worth $9,125,000 after purchasing an additional 7,525 shares in the last quarter. WPG Advisers LLC bought a new stake in shares of Newmont in the 3rd quarter worth $63,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Newmont in the 3rd quarter worth $131,000. Institutional investors own 68.85% of the company's stock.

Insider Activity at Newmont

In other Newmont news, CEO Natascha Viljoen sold 3,882 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 value of $445,692.42. Following the transaction, the chief executive officer directly owned 127,471 shares of the company's stock, valued at approximately $14,634,945.51. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 business's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the sale, the executive vice president owned 34,315 shares of the company's stock, valued at approximately $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 32,973 shares of company stock worth $3,646,819. 0.06% of the stock is owned by insiders.

Newmont Price Performance

Shares of NEM opened at $106.60 on Monday. The firm has a market cap of $110.78 billion, a PE ratio of 12.40, a P/E/G ratio of 1.95 and a beta of 0.51. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $120.62 and a two-hundred day simple moving average of $112.48. Newmont Corporation has a 1-year low of $78.60 and a 1-year high of $135.29.

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

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, November 25th. Newmont's dividend payout ratio is 12.09%.

Wall Street Analyst Weigh In

NEM has been the subject of several recent analyst reports. Barclays decreased their price target on Newmont from $124.00 to $123.00 and set an "overweight" rating for the company in a research note on Monday, October 19th. Argus set a $110.00 price objective on Newmont and gave the company a "buy" rating in a research report on Monday, August 3rd. National Bank Financial reduced their price objective on Newmont from $140.00 to $135.00 and set a "sector perform" rating for the company in a report on Tuesday, October 20th. Freedom Broker lowered Newmont from a "buy" rating to a "hold" rating and decreased their target price for the stock from $130.00 to $116.00 in a research report on Thursday, October 22nd. Finally, Zacks Research lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 14th. Two research 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $137.20.

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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