28,774 Shares of Newmont Corporation $NEM Bought by Greenfield Seitz Capital Management LLC

Greenfield Seitz Capital Management LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 28,774 shares of the basic materials company’s stock, valued at approximately $3,319,000.

Several other institutional investors have also recently added to or reduced their stakes in NEM. Cedar Mountain Advisors LLC purchased a new position in Newmont in the first quarter valued at approximately $25,000. Clearstead Trust LLC acquired a new stake in Newmont during the second quarter worth approximately $25,000. Kilter Group LLC purchased a new stake in shares of Newmont during the 2nd quarter worth approximately $26,000. GoalVest Advisory LLC purchased a new stake in shares of Newmont during the 3rd quarter worth approximately $28,000. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Newmont during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. This represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $445,692.42. Following the sale, the chief executive officer owned 127,471 shares of the company’s stock, valued at approximately $14,634,945.51. This represents a 2.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,973 shares of company stock worth $3,646,819 in the last 90 days. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. RBC Dominion Securities set a $155.00 target price on shares of Newmont and gave the company an “outperform” rating in a report on Thursday, October 22nd. BNP Paribas Exane lifted their price target on shares of Newmont from $102.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. Royal Bank Of Canada boosted their price target on shares of Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. TD Cowen decreased their price objective on shares of Newmont from $133.00 to $131.00 in a research note on Tuesday, October 20th. Finally, Weiss Ratings raised Newmont from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.20.

Newmont Trading Up 2.3%

NEM opened at $109.03 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 52 week low of $78.60 and a 52 week high of $135.29. The business’s 50 day moving average is $120.16 and its two-hundred day moving average is $112.46. The firm has a market cap of $113.31 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.26. The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.71 earnings per share. On average, research analysts predict that Newmont Corporation will post 9.11 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be given a $0.26 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio is 12.09%.

About Newmont

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.