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

Live Oak Investment Partners bought a new position in shares of Newmont Corporation (NYSE:NEM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,471 shares of the basic materials company’s stock, valued at approximately $2,232,000. Newmont accounts for 1.1% of Live Oak Investment Partners’ holdings, making the stock its 29th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Concord Wealth Partners raised its position 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 acquiring an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew its stake in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares during the last quarter. Capital A Wealth Management LLC raised its holdings 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 purchasing an additional 478 shares in the last quarter. Caldwell Trust Co bought a new position in Newmont in the second quarter worth about $31,000. Finally, Country Trust Bank purchased a new stake in shares of Newmont during the second quarter valued at about $32,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NEM has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Raymond James Financial upped their price target on Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. BNP Paribas Exane cut Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price objective for the company. in a research report on Friday, December 5th. Finally, The Goldman Sachs Group upped their target price on Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research report on Monday, January 12th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Buy” and an average target price of $99.35.

Newmont Price Performance

Shares of NEM opened at $114.17 on Tuesday. 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 company’s fifty day moving average price is $98.10 and its 200-day moving average price is $83.22. Newmont Corporation has a 1-year low of $40.85 and a 1-year high of $115.70. The firm has a market capitalization of $124.59 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 0.80 and a beta of 0.41.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The company 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 revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 EPS. On average, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were issued 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 dividend yield of 0.9%. Newmont’s payout ratio is 15.53%.

Insider Buying and Selling

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 9,160 shares of company stock worth $767,206. 0.05% of the stock is owned by insiders.

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.