Aaron Wealth Advisors LLC Takes Position in Newmont Co. (NYSE:NEM)

Aaron Wealth Advisors LLC purchased a new position in Newmont Co. (NYSE:NEM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,763 shares of the basic materials company’s stock, valued at approximately $201,000.

A number of other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in Newmont by 7.5% in the 1st quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock valued at $271,000 after buying an additional 529 shares during the last quarter. Herr Investment Group LLC bought a new stake in Newmont in the 2nd quarter valued at $419,000. Truist Financial Corp grew its holdings in Newmont by 8.1% in the 2nd quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock valued at $6,295,000 after buying an additional 11,276 shares in the last quarter. Primoris Wealth Advisors LLC bought a new position in Newmont during the 2nd quarter worth $607,000. Finally, Forsta AP Fonden lifted its holdings in shares of Newmont by 9.6% during the first quarter. Forsta AP Fonden now owns 252,100 shares of the basic materials company’s stock worth $9,035,000 after buying an additional 22,100 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $48.00 to $59.00 in a report on Monday, August 19th. UBS Group boosted their price target on Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 29th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.46.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock worth $3,434,640 in the last three months. 0.06% of the stock is owned by insiders.

Newmont Price Performance

NEM opened at $57.62 on Monday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $57.96. The company has a market capitalization of $66.44 billion, a price-to-earnings ratio of -21.58, a PEG ratio of 0.43 and a beta of 0.50. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $52.88 and a 200-day moving average price of $46.39.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company’s revenue was up 64.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. Equities analysts expect that Newmont Co. will post 3.1 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were given a $0.25 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.74%. Newmont’s payout ratio is currently -37.45%.

Newmont Profile

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, Papua New Guinea, Ecuador, Fiji, and Ghana.