Newmont Corporation $NEM Holdings Trimmed by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust reduced its position in shares of Newmont Corporation (NYSE:NEM) by 41.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,057 shares of the basic materials company’s stock after selling 4,990 shares during the period. Parkside Financial Bank & Trust’s holdings in Newmont were worth $595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. iA Global Asset Management Inc. grew its holdings in shares of Newmont by 6.2% during the third quarter. iA Global Asset Management Inc. now owns 86,344 shares of the basic materials company’s stock valued at $7,280,000 after buying an additional 5,019 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Newmont during the 3rd quarter worth about $570,000. Olympiad Research LP acquired a new stake in Newmont during the 3rd quarter worth about $322,000. Bailard Inc. purchased a new position in Newmont during the 3rd quarter valued at about $269,000. Finally, Mitchell Mcleod Pugh & Williams Inc. acquired a new position in shares of Newmont in the 3rd quarter valued at about $242,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $124.34 on Friday. The firm has a market cap of $135.69 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 0.92 and a beta of 0.41. The company’s fifty day moving average is $100.57 and its 200-day moving average is $84.59. 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 Corporation has a 12 month low of $40.85 and a 12 month high of $124.64.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. Newmont’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. Equities analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NEM has been the subject of several research reports. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Bank of America increased their target price on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. TD Securities boosted their price target on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. Finally, National Bankshares lifted their price objective on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Six investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $99.49.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 9,160 shares of company stock worth $767,206. Corporate insiders own 0.05% of the company’s stock.

About Newmont

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.