8,152 Shares in Newmont Co. (NYSE:NEM) Bought by Golden State Equity Partners

31 Oct 2024, 11:10 by Kim Johansen · The Markets Daily

Golden State Equity Partners bought a new position in Newmont Co. (NYSE:NEM – Free Report) during the third quarter, according to its most recent filing with the SEC. The firm bought 8,152 shares of the basic materials company’s stock, valued at approximately $436,000.

A number of other large investors also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new position in shares of Newmont in the 3rd quarter worth $32,000. Fidelis Capital Partners LLC purchased a new position in Newmont during the 3rd quarter worth $210,000. Boston Financial Mangement LLC boosted its holdings in Newmont by 0.6% during the 3rd quarter. Boston Financial Mangement LLC now owns 83,980 shares of the basic materials company’s stock worth $4,489,000 after acquiring an additional 525 shares during the last quarter. abrdn plc boosted its holdings in Newmont by 35.3% during the 3rd quarter. abrdn plc now owns 1,738,741 shares of the basic materials company’s stock worth $92,840,000 after acquiring an additional 453,603 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in Newmont by 14.3% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 44,165 shares of the basic materials company’s stock worth $2,361,000 after acquiring an additional 5,534 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Down 1.8 %

Shares of NYSE NEM opened at $46.94 on Thursday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $53.44 billion, a price-to-earnings ratio of -30.88, a PEG ratio of 0.40 and a beta of 0.50. The business has a 50-day moving average of $53.16 and a 200-day moving average of $47.06.

Newmont (NYSE:NEM – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the previous year, the firm posted $0.36 EPS. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. Sell-side analysts expect that Newmont Co. will post 3.13 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NEM shares. Raymond James lifted their price objective on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada lowered their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $67.00 to $54.00 in a research note on Wednesday. Finally, BMO Capital Markets lifted their target price on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $53.85.

Get Our Latest Research Report on NEM

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock valued at $2,444,440 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Newmont Company Profile

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