26,471 Shares in Newmont Corporation $NEM Acquired by Live Oak Investment Partners

Live Oak Investment Partners bought a new stake in Newmont Corporation (NYSE:NEM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,471 shares of the basic materials company’s stock, valued at approximately $2,232,000. Newmont makes up about 1.7% of Live Oak Investment Partners’ investment portfolio, making the stock its 20th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. raised its position in shares of Newmont by 53.5% during the 3rd 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. Summit Financial Wealth Advisors LLC increased its stake in Newmont by 2.3% in the third quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock valued at $566,000 after acquiring an additional 145 shares during the last quarter. Welch Group LLC raised its position in Newmont by 1.3% during the third quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock valued at $1,027,000 after purchasing an additional 153 shares in the last quarter. Hemington Wealth Management raised its position in Newmont by 17.6% during the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 170 shares in the last quarter. Finally, IVC Wealth Advisors LLC lifted its stake in Newmont by 1.3% during the second quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.0%

NEM stock opened at $114.17 on Friday. The business has a 50 day moving average of $96.97 and a 200 day moving average of $82.12. The firm has a market cap of $124.59 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 0.85 and a beta of 0.41. Newmont Corporation has a twelve month low of $40.85 and a twelve month high of $115.70. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last issued its quarterly earnings results 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. The firm 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%.The company’s revenue was up 20.0% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. On average, research analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

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

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the 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 sale, the chief executive officer 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 transaction was disclosed in a filing 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 transaction, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 9,160 shares of company stock worth $767,206. Insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NEM shares. BNP Paribas Exane lowered Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price objective on the stock. in a research report on Friday, December 5th. National Bankshares upped their target price on Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Citigroup reissued a “buy” rating on shares of Newmont in a research note on Monday. Raymond James Financial upped their price objective on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Macquarie raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. Five investment 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. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $99.35.

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.