Lbp Am Sa Reduces Stake in Newmont Corporation $NEM

Lbp Am Sa lowered its stake in Newmont Corporation (NYSE:NEM) by 22.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 291,252 shares of the basic materials company’s stock after selling 85,389 shares during the quarter. Lbp Am Sa’s holdings in Newmont were worth $24,555,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Concord Wealth Partners boosted its position in shares of Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares during the period. Evermay Wealth Management LLC lifted its stake in Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares in the last quarter. Capital A Wealth Management LLC boosted its holdings in Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 478 shares during the period. Caldwell Trust Co purchased a new position in shares of Newmont during the 2nd quarter valued at $31,000. Finally, Country Trust Bank bought a new position in shares of Newmont in the second quarter worth $32,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

NEM opened at $124.34 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The stock’s 50 day simple moving average is $100.57 and its 200 day simple moving average is $84.96. The firm has a market cap of $135.69 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 0.95 and a beta of 0.41. Newmont Corporation has a 1 year low of $40.85 and a 1 year high of $124.64.

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, beating the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The business’s revenue was up 20.0% on a year-over-year basis. As a group, analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,160 shares of company stock valued at $767,206 over the last quarter. 0.05% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NEM shares. Argus lifted their price objective on Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. TD Cowen upped their price objective on shares of Newmont from $89.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday. Canaccord Genuity Group lifted their target price on shares of Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Friday. Finally, Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Six equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $103.77.

Newmont Company 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.