38,090 Shares of Newmont Corporation $NEM Bought by Skylands Capital LLC

Skylands Capital LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 38,090 shares of the basic materials company’s stock, valued at approximately $4,393,000.

Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Newmont in the 2nd quarter valued at approximately $11,289,753,000. Van ECK Associates Corp acquired a new position in Newmont in the second quarter worth approximately $671,197,000. Bank of New York Mellon Corp bought a new position in Newmont during the second quarter valued at approximately $1,219,505,000. First Eagle Investment Management LLC bought a new position in Newmont during the second quarter valued at approximately $241,820,000. Finally, Amundi bought a new position in Newmont during the second quarter valued at approximately $209,411,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NYSE:NEM opened at $117.09 on Thursday. The stock has a market capitalization of $123.37 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.16 and a beta of 0.51. The business has a 50-day moving average of $122.06 and a two-hundred day moving average of $111.00. Newmont Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion for 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 prior year, the firm posted $1.43 EPS. On average, equities research analysts predict that Newmont Corporation will post 9.04 EPS for the current fiscal year.

Insider Activity at Newmont

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the 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 $344,430.00. Following the transaction, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. This trade represents a 8.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 35,973 shares of company stock valued at $3,927,169. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on NEM shares. Jefferies Financial Group reduced their target price on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. National Bank Financial dropped their price target on shares of Newmont from $140.00 to $135.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Argus set a $110.00 price target on shares of Newmont in a research note on Monday, August 3rd. Royal Bank Of Canada raised their price target on shares of Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Finally, Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.92.

Newmont Profile

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.