Oak Family Advisors LLC Has $3.03 Million Holdings in Newmont Corporation $NEM

Oak Family Advisors LLC cut its holdings in Newmont Corporation (NYSE:NEM) by 46.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,906 shares of the basic materials company’s stock after selling 31,403 shares during the period. Oak Family Advisors LLC’s holdings in Newmont were worth $3,027,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NEM. Harbor Capital Advisors Inc. increased its stake in Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after buying an additional 139 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its position in shares of Newmont by 2.3% in the third quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock valued at $566,000 after acquiring an additional 145 shares during the last quarter. Welch Group LLC raised its holdings in Newmont by 1.3% during the third quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock worth $1,027,000 after acquiring an additional 153 shares in the last quarter. Hemington Wealth Management grew its stake in Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 170 shares in the last quarter. Finally, IVC Wealth Advisors LLC grew its stake in Newmont by 1.3% in the second quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock valued at $813,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 1.0%

Newmont stock opened at $106.90 on Friday. The company’s 50-day moving average price is $93.78 and its two-hundred day moving average price is $80.23. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock has a market cap of $116.66 billion, a P/E ratio of 16.60, a P/E/G ratio of 0.84 and a beta of 0.41. Newmont Corporation has a twelve month low of $38.53 and a twelve month high of $109.30.

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

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s payout ratio is presently 15.53%.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on 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 directly owned 279,923 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,160 shares of company stock worth $767,206 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent analyst reports. Argus boosted their target price on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Bank of America lifted their price objective on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $71.50 to $114.00 in a report on Thursday, October 23rd. Finally, National Bankshares upped their price objective on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $97.08.

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.