Newmont Co. (NYSE:NEM) Shares Purchased by Kestra Advisory Services LLC

Kestra Advisory Services LLC boosted its holdings in Newmont Co. (NYSE:NEMGet Rating) by 32.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,507 shares of the basic materials company’s stock after acquiring an additional 5,944 shares during the quarter. Kestra Advisory Services LLC’s holdings in Newmont were worth $1,030,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Janiczek Wealth Management LLC increased its position in Newmont by 310.0% in the 3rd quarter. Janiczek Wealth Management LLC now owns 3,206 shares of the basic materials company’s stock valued at $136,000 after acquiring an additional 2,424 shares during the period. S.A. Mason LLC acquired a new position in shares of Newmont during the 3rd quarter valued at $55,000. State of Michigan Retirement System increased its position in shares of Newmont by 0.3% during the 3rd quarter. State of Michigan Retirement System now owns 214,845 shares of the basic materials company’s stock valued at $9,030,000 after purchasing an additional 700 shares during the period. Jennison Associates LLC increased its position in shares of Newmont by 19.9% during the 2nd quarter. Jennison Associates LLC now owns 324,773 shares of the basic materials company’s stock valued at $19,379,000 after purchasing an additional 53,894 shares during the period. Finally, Empirical Finance LLC increased its position in shares of Newmont by 5.8% during the 2nd quarter. Empirical Finance LLC now owns 15,866 shares of the basic materials company’s stock valued at $947,000 after purchasing an additional 870 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total transaction of $473,220.00. Following the completion of the sale, the chief executive officer now owns 221,949 shares of the company’s stock, valued at $9,548,245.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total transaction of $473,220.00. Following the completion of the sale, the chief executive officer now owns 221,949 shares of the company’s stock, valued at $9,548,245.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total value of $144,690.00. Following the sale, the chief operating officer now directly owns 33,947 shares of the company’s stock, valued at approximately $1,637,263.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,890 shares of company stock valued at $2,160,662. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NEM shares. Raymond James lowered their price target on Newmont from $58.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, January 13th. Fundamental Research reiterated a “buy” rating and set a $52.00 price target (down from $63.91) on shares of Newmont in a research report on Tuesday, November 15th. Barclays lowered their price target on Newmont from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, November 21st. Canaccord Genuity Group reiterated a “hold” rating and set a $56.00 price target (up from $50.00) on shares of Newmont in a research report on Thursday, January 19th. Finally, National Bank Financial lifted their target price on Newmont from C$76.00 to C$86.00 in a report on Friday, January 13th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.07.

Newmont Stock Performance

Shares of Newmont stock opened at $53.39 on Wednesday. The stock has a market cap of $42.38 billion, a PE ratio of 42.37 and a beta of 0.27. The business has a fifty day simple moving average of $48.61 and a 200-day simple moving average of $45.97. The company has a quick ratio of 2.29, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Newmont Co. has a 12 month low of $37.45 and a 12 month high of $86.37.

Newmont (NYSE:NEMGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.79 billion. Newmont had a net margin of 8.28% and a return on equity of 8.07%. On average, sell-side analysts anticipate that Newmont Co. will post 1.82 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Thursday, December 8th were given a dividend of $0.55 per share. The ex-dividend date was Wednesday, December 7th. This represents a $2.20 dividend on an annualized basis and a yield of 4.12%. Newmont’s payout ratio is 174.60%.

Newmont Company Profile

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Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

Further Reading

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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