Newmont Corporation $NEM Shares Newly Purchased by Lmcg Investments LLC

Key Points

• Lmcg Investments LLC purchased 21,744 Newmont shares worth approximately $2.5 million in the third quarter. Several other institutional investors also initiated positions, with institutions now owning 68.85% of the stock.
• Newmont insiders sold 35,973 shares valued at approximately $3.93 million over the past three months, reducing insider ownership to 0.06%.
• Newmont recently reported quarterly EPS of $2.10, exceeding estimates of $2.05, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $133.92.

Lmcg Investments LLC purchased a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,744 shares of the basic materials company's stock, valued at approximately $2,508,000.

Several other large investors also recently modified their holdings of NEM. Crescent Grove Advisors LLC acquired a new position in shares of Newmont in the third quarter valued at approximately $3,433,000. Cardinal Point Capital Management ULC acquired a new stake in shares of Newmont during the third quarter worth $16,010,000. PFS Partners LLC bought a new stake in Newmont in the 3rd quarter valued at $71,000. Eagle Rock Investment Company LLC bought a new stake in Newmont in the 3rd quarter valued at $1,948,000. Finally, Hartford Financial Management Inc. acquired a new position in Newmont in the 3rd quarter worth $57,000. 68.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction dated 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 $3,081,659.16. This represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $344,430.00. Following the completion of the transaction, 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 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 35,973 shares of company stock valued at $3,927,169 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

Shares of NEM stock opened at $117.09 on Thursday. Newmont Corporation has a 12 month low of $76.05 and a 12 month high of $135.29. The company's fifty day simple moving average is $122.06 and its 200-day simple moving average is $111.00. The firm has a market cap of $123.37 billion, a PE ratio of 14.78, a P/E/G ratio of 2.16 and a beta of 0.51. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15.

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

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research reports. The Goldman Sachs Group lowered their target price on Newmont from $122.50 to $111.40 and set a "buy" rating for the company in a report on Wednesday, July 1st. Canadian Imperial Bank of Commerce set a $154.00 price target on Newmont in a report on Friday, October 16th. National Bank Financial cut their price target on Newmont from $140.00 to $135.00 and set a "sector perform" rating on the stock in a report on Tuesday. BNP Paribas Exane reduced their price objective on Newmont from $111.00 to $102.00 and set a "neutral" rating for the company in a research report on Tuesday, July 21st. Finally, BMO Capital Markets increased their price objective on Newmont from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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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