5,528 Shares in Newmont Corporation $NEM Purchased by Kenora Financial LLC

Kenora Financial LLC bought a new position in Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,528 shares of the basic materials company’s stock, valued at approximately $638,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Newmont in the second quarter worth approximately $11,289,753,000. State Street Corp raised its position in shares of Newmont by 3.1% during 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 period. Bank of New York Mellon Corp raised its position 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 valued at $1,324,757,000 after purchasing an additional 615,461 shares during the period. Dimensional Fund Advisors LP lifted its stake 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 valued at $1,012,792,000 after buying an additional 184,586 shares in the last quarter. Finally, Amundi lifted its stake 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 valued at $950,519,000 after buying an additional 372,415 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NEM opened at $118.03 on Tuesday. The stock has a market capitalization of $124.37 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.20 and a beta of 0.51. The company has a fifty day moving average of $122.08 and a 200 day moving average of $110.96. Newmont Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the previous year, the firm posted $1.43 EPS. As a group, sell-side analysts forecast that Newmont Corporation will post 9.05 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were given a dividend of $0.26 per share. The ex-dividend date was Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the sale, the executive vice president directly owned 34,315 shares of the company’s stock, 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 can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the sale, the chief executive officer owned 135,235 shares in the company, valued at $14,064,440. This represents a 5.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 35,973 shares of company stock worth $3,927,169 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NEM shares. Citigroup dropped their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a report on Monday, July 20th. BNP Paribas Exane decreased their price target on Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Raymond James Financial restated an “outperform” rating and issued a $140.00 price objective on shares of Newmont in a research report on Monday, August 24th. Jefferies Financial Group dropped their price objective on Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, Scotiabank increased their target price on Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $133.45.

Newmont 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.