Newmont Corporation $NEM Stock Holdings Lowered by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lessened its position in Newmont Corporation (NYSE:NEM) by 41.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,057 shares of the basic materials company’s stock after selling 4,990 shares during the period. Parkside Financial Bank & Trust’s holdings in Newmont were worth $595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. iA Global Asset Management Inc. increased its stake in shares of Newmont by 6.2% in the third quarter. iA Global Asset Management Inc. now owns 86,344 shares of the basic materials company’s stock valued at $7,280,000 after purchasing an additional 5,019 shares during the period. New Wave Wealth Advisors LLC bought a new position in Newmont in the 3rd quarter worth approximately $570,000. Olympiad Research LP acquired a new stake in Newmont in the 3rd quarter valued at approximately $322,000. Bailard Inc. bought a new stake in Newmont during the 3rd quarter valued at $269,000. Finally, Mitchell Mcleod Pugh & Williams Inc. acquired a new position in Newmont during the 3rd quarter worth $242,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction 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 transaction, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,160 shares of company stock valued at $767,206 in the last quarter. Insiders own 0.05% of the company’s stock.

Newmont Stock Up 2.2%

NYSE NEM opened at $124.34 on Friday. Newmont Corporation has a 12 month low of $40.85 and a 12 month high of $124.64. The company has a market capitalization of $135.69 billion, a P/E ratio of 19.31, a PEG ratio of 0.92 and a beta of 0.41. The company’s 50 day simple moving average is $100.57 and its 200 day simple moving average is $84.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. Equities research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research analyst reports. DZ Bank raised Newmont to a “strong-buy” rating in a report on Monday, January 19th. UBS Group raised their target price on shares of Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. The Goldman Sachs Group increased their price objective on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Argus raised their price objective on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Six equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $99.49.

Newmont Profile

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.