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Newmont Co. (NYSE:NEM) Shares Bought by Xponance Inc.

Xponance Inc. raised its position in Newmont Co. (NYSE:NEM – Get Rating) by 7.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 81,303 shares of the basic materials company’s stock after acquiring an additional 5,946 shares during the quarter. Xponance Inc.’s holdings in Newmont were worth $3,417,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NEM. Wealth Alliance Advisory Group LLC boosted its position in Newmont by 5.1% during the second quarter. Wealth Alliance Advisory Group LLC now owns 3,460 shares of the basic materials company’s stock worth $206,000 after acquiring an additional 169 shares during the last quarter. Mcrae Capital Management Inc. raised its stake in Newmont by 3.7% during the second quarter. Mcrae Capital Management Inc. now owns 5,600 shares of the basic materials company’s stock worth $334,000 after purchasing an additional 200 shares during the period. Parkside Financial Bank & Trust raised its stake in Newmont by 15.6% during the second quarter. Parkside Financial Bank & Trust now owns 1,565 shares of the basic materials company’s stock worth $93,000 after purchasing an additional 211 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Newmont by 0.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 41,958 shares of the basic materials company’s stock worth $2,504,000 after purchasing an additional 214 shares during the period. Finally, AdvisorNet Financial Inc raised its stake in Newmont by 9.9% during the second quarter. AdvisorNet Financial Inc now owns 2,391 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 215 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $43.02, for a total transaction of $473,220.00. Following the completion of the transaction, the chief executive officer now directly owns 221,949 shares of the company’s stock, valued at approximately $9,548,245.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $43.02, for a total value of $129,060.00. Following the completion of the transaction, the chief operating officer now directly owns 39,947 shares of the company’s stock, valued at approximately $1,718,519.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $43.02, for a total transaction of $473,220.00. Following the completion of the transaction, the chief executive officer now directly owns 221,949 shares of the company’s stock, valued at $9,548,245.98. The disclosure for this sale can be found here. Insiders sold a total of 32,890 shares of company stock valued at $1,485,442 in the last ninety days. Corporate insiders own 0.11% of the company’s stock.

Newmont Stock Performance

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Newmont stock opened at $49.58 on Wednesday. Newmont Co. has a 12-month low of $37.45 and a 12-month high of $86.37. The company has a market capitalization of $39.35 billion, a price-to-earnings ratio of 39.35 and a beta of 0.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 2.29. The firm’s fifty day moving average price is $45.68 and its 200 day moving average price is $46.94.

Newmont (NYSE:NEM – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.02). The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.79 billion. Newmont had a return on equity of 8.07% and a net margin of 8.28%. On average, research analysts forecast that Newmont Co. will post 1.79 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 4.44%. The ex-dividend date was Wednesday, December 7th. Newmont’s dividend payout ratio is currently 174.60%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays cut their price target on shares of Newmont from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, November 21st. Eight Capital cut their price target on shares of Newmont to $58.00 in a research note on Thursday, October 27th. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, September 6th. National Bank Financial raised their target price on shares of Newmont from C$79.00 to C$80.00 in a research note on Thursday, October 13th. Finally, StockNews.com began coverage on shares of Newmont in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.56.

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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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