Plan Group Financial LLC Takes Position in Newmont Corporation $NEM

Plan Group Financial LLC bought a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,064 shares of the basic materials company’s stock, valued at approximately $596,000.

Other hedge funds also recently bought and sold shares of the company. Concord Wealth Partners increased its holdings in shares of Newmont by 534.7% in 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 last quarter. Evermay Wealth Management LLC lifted its holdings in shares of Newmont by 408.2% in the 2nd 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 during the last quarter. Capital A Wealth Management LLC grew its position in Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 478 shares in the last quarter. Caldwell Trust Co bought a new stake in Newmont during the second quarter worth approximately $31,000. Finally, Country Trust Bank purchased a new stake in Newmont during the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value 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 trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 9,160 shares of company stock worth $767,206. Company insiders own 0.05% of the company’s stock.

Newmont Trading Up 1.4%

NYSE:NEM opened at $114.57 on Wednesday. The firm has a 50-day simple moving average of $95.68 and a 200-day simple moving average of $81.67. Newmont Corporation has a one year low of $39.19 and a one year high of $115.01. The firm has a market cap of $125.03 billion, a P/E ratio of 17.79, a P/E/G ratio of 0.83 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

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

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Newmont’s payout ratio is currently 15.53%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NEM shares. TD Securities boosted their target price on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and set a $111.00 price objective on shares of Newmont in a research report on Monday, December 29th. CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. National Bankshares upped their price target on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Finally, Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $97.08.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.