Turtle Creek Wealth Advisors LLC Makes New $884,000 Investment in Newmont Corporation $NEM

Turtle Creek Wealth Advisors LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 7,662 shares of the basic materials company’s stock, valued at approximately $884,000.

A number of other institutional investors have also modified their holdings of NEM. Cedar Mountain Advisors LLC acquired a new position in shares of Newmont in the 1st quarter valued at about $25,000. Pinnacle Bancorp Inc. acquired a new stake in Newmont during the first quarter worth about $25,000. GoalVest Advisory LLC acquired a new stake in Newmont during the third quarter worth about $28,000. Clearstead Trust LLC acquired a new stake in Newmont during the second quarter worth about $25,000. Finally, Kilter Group LLC purchased a new position in Newmont during the second quarter valued at approximately $26,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of a number of analyst reports. Weiss Ratings raised Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 2nd. Canaccord Genuity Group dropped their price objective on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 target price on shares of Newmont in a report on Monday, August 24th. TD lifted their target price on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $134.26.

Newmont Price Performance

NYSE:NEM opened at $115.67 on Friday. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $121.88 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51. The stock’s 50-day moving average price is $121.96 and its 200-day moving average price is $110.78.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%. During the same quarter in the previous year, the business earned $1.43 EPS. As a group, equities analysts expect that Newmont Corporation will post 9.05 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were given a dividend of $0.26 per share. The ex-dividend date was Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont’s dividend payout ratio is currently 13.13%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the sale, the executive vice president directly owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. This trade represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $445,692.42. Following the completion of the sale, the chief executive officer owned 127,471 shares of the company’s stock, valued at $14,634,945.51. This trade represents a 2.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 35,973 shares of company stock valued at $3,927,169. Company insiders own 0.06% of the company’s stock.

Newmont Company Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.