Game Creek Capital LP Has $4.12 Million Stake in Newmont Corporation $NEM

Game Creek Capital LP lowered its position in shares of Newmont Corporation (NYSE:NEM) by 22.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,750 shares of the basic materials company’s stock after selling 20,250 shares during the period. Newmont accounts for approximately 1.8% of Game Creek Capital LP’s investment portfolio, making the stock its 17th biggest holding. Game Creek Capital LP’s holdings in Newmont were worth $4,122,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NEM. Concord Wealth Partners increased its position in Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares during the period. Evermay Wealth Management LLC grew its stake in shares of Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 400 shares in the last quarter. CoreFirst Bank & Trust bought a new position in Newmont during the second quarter worth about $32,000. Country Trust Bank acquired a new stake in Newmont in the 2nd quarter worth about $32,000. Finally, Colonial Trust Advisors raised its stake in Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 1.2%

Shares of NEM stock opened at $98.21 on Friday. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $102.13. The stock’s fifty day moving average price is $87.86 and its two-hundred day moving average price is $73.94. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The company has a market cap of $107.17 billion, a PE ratio of 15.25, a P/E/G ratio of 0.69 and a beta of 0.41.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.Newmont’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 EPS. Equities analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,240 shares of company stock worth $943,985 over the last ninety days. 0.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NEM has been the subject of a number of analyst reports. National Bankshares lifted their price target on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday. Argus raised their price objective on Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. The Goldman Sachs Group set a $104.30 price objective on Newmont and gave the company a “buy” rating in a report on Sunday, October 12th. Royal Bank Of Canada increased their target price on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Finally, Macquarie upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $96.37.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.