Trek Financial LLC Sells 4,755 Shares of Newmont Corporation $NEM

Trek Financial LLC cut its holdings in Newmont Corporation (NYSE:NEM) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,486 shares of the basic materials company’s stock after selling 4,755 shares during the quarter. Trek Financial LLC’s holdings in Newmont were worth $4,762,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings in shares of Newmont by 53.5% during the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares in the last quarter. Concord Wealth Partners raised its holdings in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares during the last quarter. Evermay Wealth Management LLC grew its holdings in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Newmont during the third quarter worth about $44,000. Finally, Capital A Wealth Management LLC raised its holdings in shares of 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 worth $30,000 after acquiring an additional 478 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NYSE:NEM traded up $2.65 during trading on Friday, hitting $124.34. 8,030,429 shares of the company were exchanged, compared to its average volume of 7,640,620. The stock has a 50 day moving average of $100.57 and a 200 day moving average of $84.59. The company has a market cap of $135.69 billion, a PE ratio of 19.31, a P/E/G ratio of 0.92 and a beta of 0.41. Newmont Corporation has a 52-week low of $40.85 and a 52-week high of $124.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (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 the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. As a group, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction 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 trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred 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 of the company’s stock, valued at $3,021,003.24. This 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 valued at $767,206. Company insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent research reports. Citigroup reiterated a “buy” rating on shares of Newmont in a report on Monday, January 12th. Canaccord Genuity Group increased their target price on shares of Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a report on Friday. CIBC set a $112.00 price objective on shares of Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. UBS Group lifted their target price on shares of Newmont from $105.50 to $125.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Finally, Raymond James Financial upped their target price on Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Six 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target 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.