Sigma Planning Corp Acquires New Position in Newmont Corporation $NEM

Key Points

• Sigma Planning Corp. acquired 9,605 Newmont shares during the third quarter, valued at approximately $1.08 million. Institutional investors collectively own 68.85% of Newmont.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $137.20.
• Newmont exceeded quarterly earnings expectations, reporting $2.20 in EPS and $6.36 billion in revenue, while declaring a quarterly dividend of $0.26 per share.

Sigma Planning Corp bought a new stake in shares of 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 bought 9,605 shares of the basic materials company's stock, valued at approximately $1,075,000.

Other institutional investors also recently modified their holdings of the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in shares of Newmont in the third quarter worth about $814,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Newmont during the 2nd quarter valued at $36,180,000. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Newmont in the third quarter valued at $1,769,000. Asset One Wealth Management LLC acquired a new stake in shares of Newmont in the second quarter worth $2,866,000. Finally, Private Advisory Group LLC purchased a new position in shares of Newmont during the second quarter valued at $10,430,000. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NEM shares. RBC Dominion Securities set a $155.00 price target on shares of Newmont and gave the stock an "outperform" rating in a research report on Thursday, October 22nd. BNP Paribas Exane lifted their price objective on Newmont from $102.00 to $112.00 and gave the company a "neutral" rating in a research report on Monday, August 17th. Weiss Ratings upgraded Newmont from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 16th. Bank of America raised their price objective on shares of Newmont from $135.00 to $145.00 in a research report on Monday, August 17th. Finally, National Bank Financial reduced their target price on shares of Newmont from $140.00 to $135.00 and set a "sector perform" rating for the company in a research note on Tuesday, October 20th. Two equities 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $137.20.

Insider Activity

In other news, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the transaction, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $445,692.42. Following the sale, the chief executive officer owned 127,471 shares of the company's stock, valued at approximately $14,634,945.51. The trade was a 2.96% 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. Over the last ninety days, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is owned by insiders.

Newmont Stock Down 2.0%

Shares of Newmont stock opened at $111.65 on Friday. The stock has a market capitalization of $116.02 billion, a P/E ratio of 12.98, a PEG ratio of 2.07 and a beta of 0.51. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $121.04 and a two-hundred day moving average price of $112.51. Newmont Corporation has a 12-month low of $78.60 and a 12-month high of $135.29.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.94 by $0.26. The company had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.71 earnings per share. Equities analysts expect that Newmont Corporation will post 9.14 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, November 25th. Newmont's dividend payout ratio is 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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