Hohimer Wealth Management LLC Purchases 6,026 Shares of Newmont Corporation $NEM

Hohimer Wealth Management LLC acquired a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,026 shares of the basic materials company’s stock, valued at approximately $695,000.

A number of other large investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Newmont in the 3rd quarter valued at about $71,000. Almanack Investment Partners LLC. purchased a new position in Newmont during the third quarter worth approximately $545,000. Euro Pacific Asset Management LLC acquired a new stake in Newmont in the third quarter valued at approximately $46,477,000. Carnegie Lake Advisors LLC acquired a new stake in Newmont in the third quarter valued at approximately $172,000. Finally, Abbington Investment Group acquired a new stake in Newmont in the third quarter valued at approximately $1,241,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of several research analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 target price (up from $131.00) on shares of Newmont in a research note on Monday, August 24th. Citigroup lifted their price target on shares of Newmont from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Scotiabank dropped their price target on shares of Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 27th. Weiss Ratings raised shares of Newmont from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Finally, TD Cowen reduced their price objective on shares of Newmont from $133.00 to $131.00 in a research report on Tuesday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

Insiders Place Their Bets

In related news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $419,411.28. Following the transaction, the chief executive officer directly owned 101,691 shares in the company, valued at approximately $10,986,695.64. The trade was a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $324,120.00. Following the sale, the executive vice president directly owned 31,315 shares of the company’s stock, valued at approximately $3,383,272.60. This represents a 8.74% decrease in their position. 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 have sold 20,646 shares of company stock valued at $2,380,140 in the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NYSE:NEM opened at $125.13 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16. The business’s 50 day moving average price is $118.81 and its 200-day moving average price is $112.51. The firm has a market capitalization of $130.03 billion, a PE ratio of 14.55, a P/E/G ratio of 2.15 and a beta of 0.56. Newmont Corporation has a 1 year low of $81.34 and a 1 year high of $135.29.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.94 by $0.26. The firm 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 firm’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 EPS. As a group, equities research analysts expect that Newmont Corporation will post 9.14 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. Newmont’s dividend payout ratio is presently 12.09%.

Newmont Company Profile