Newmont Corporation $NEM Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC cut its position in Newmont Corporation (NYSE:NEM) by 15.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,621 shares of the basic materials company’s stock after selling 7,088 shares during the period. SteelPeak Wealth LLC’s holdings in Newmont were worth $3,172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of NEM. Harbor Capital Advisors Inc. raised its stake in Newmont by 53.5% in the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after buying an additional 139 shares in the last quarter. 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 valued at $27,000 after acquiring an additional 385 shares during the last quarter. Evermay Wealth Management LLC raised its position in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in Newmont in the third quarter valued at approximately $44,000. Finally, Capital A Wealth Management LLC increased its stake 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 valued at $30,000 after purchasing an additional 478 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,160 shares of company stock worth $767,206 over the last quarter. Company insiders own 0.05% of the company’s stock.

Newmont Trading Up 1.4%

Shares of Newmont stock opened at $101.23 on Friday. 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 capitalization of $110.46 billion, a P/E ratio of 15.72, a PEG ratio of 0.60 and a beta of 0.41. Newmont Corporation has a 1 year low of $37.68 and a 1 year high of $106.34. The company’s fifty day moving average is $91.62 and its two-hundred day moving average is $78.88.

Newmont (NYSE:NEM) last announced its earnings results 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. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. Analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NEM. The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the stock a “buy” rating in a research report on Sunday, October 12th. Bank of America lifted their price target on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Monday. Finally, CIBC set a $112.00 target price on Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Buy” and an average target price of $97.08.

About Newmont

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.