80,512 Shares in Newmont Corporation $NEM Acquired by Lesa Sroufe & Co

Lesa Sroufe & Co acquired a new position in Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 80,512 shares of the basic materials company’s stock, valued at approximately $9,286,000. Newmont accounts for 6.3% of Lesa Sroufe & Co’s portfolio, making the stock its 2nd largest holding.

Several other hedge funds also recently added to or reduced their stakes in NEM. BlackRock Inc. purchased a new stake in Newmont in the second quarter valued at $11,289,753,000. State Street Corp lifted its stake in shares of Newmont by 3.1% in the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after purchasing an additional 1,565,716 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Newmont by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock worth $1,324,757,000 after purchasing an additional 615,461 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Newmont by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock worth $1,012,792,000 after purchasing an additional 184,586 shares during the period. Finally, Amundi increased its position in shares of Newmont by 4.4% during the 1st quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock worth $950,519,000 after purchasing an additional 372,415 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Bank of America boosted their price objective on shares of Newmont from $135.00 to $145.00 in a report on Monday, August 17th. Freedom Broker lowered shares of Newmont from a “buy” rating to a “hold” rating and lowered their target price for the stock from $130.00 to $116.00 in a research note on Thursday, October 22nd. Royal Bank Of Canada increased their target price on shares of Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Raymond James Financial reiterated an “outperform” rating and set a $140.00 price target (up from $131.00) on shares of Newmont in a research report on Monday, August 24th. Finally, Barclays reduced their price target on shares of Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.20.

Newmont Price Performance

NEM stock opened at $109.03 on Tuesday. The business’s fifty day moving average price is $120.16 and its 200 day moving average price is $112.46. Newmont Corporation has a 12-month low of $78.60 and a 12-month high of $135.29. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $113.31 billion, a PE ratio of 12.68, a P/E/G ratio of 2.07 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.26. The company had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. Newmont’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the business posted $1.71 EPS. On average, sell-side analysts anticipate that Newmont Corporation will post 9.11 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s dividend payout ratio is currently 12.09%.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont 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 $344,430.00. Following the completion of the transaction, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. The trade was a 8.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $445,692.42. Following the sale, the chief executive officer directly owned 127,471 shares in the company, valued at approximately $14,634,945.51. The trade was a 2.96% decrease in their ownership of the stock. 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 quarter, insiders have sold 32,973 shares of company stock valued at $3,646,819. 0.06% of the stock is currently owned by corporate insiders.

Newmont Company 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.