Secure Asset Management LLC Buys 21,815 Shares of Newmont Corporation $NEM

Secure Asset Management LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 21,815 shares of the basic materials company’s stock, valued at approximately $2,516,000.

A number of other large investors have also modified their holdings of NEM. BlackRock Inc. acquired a new stake in shares of Newmont in the second quarter valued at about $11,289,753,000. State Street Corp boosted its position in Newmont by 3.1% during the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock worth $4,893,852,000 after acquiring an additional 1,565,716 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Newmont by 5.3% during the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock worth $1,324,757,000 after acquiring an additional 615,461 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Newmont by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock worth $1,012,792,000 after acquiring an additional 184,586 shares during the last quarter. Finally, Amundi grew its stake in Newmont by 4.4% during the 1st quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock valued at $950,519,000 after acquiring an additional 372,415 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on NEM shares. National Bank Financial increased their price objective on shares of Newmont from $120.00 to $140.00 and gave the company a “sector perform” rating in a report on Monday, September 21st. Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Royal Bank Of Canada boosted their target price on Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. TD boosted their target price on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, Raymond James Financial restated an “outperform” rating and issued a $140.00 price target on shares of Newmont in a research report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.45.

Newmont Stock Down 0.5%

Shares of NEM opened at $118.03 on Tuesday. 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 fifty day simple moving average of $122.08 and a two-hundred day simple moving average of $110.96. The company has a market capitalization of $124.37 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51.

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 for the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the previous year, the company posted $1.43 EPS. As a group, equities analysts forecast that Newmont Corporation will post 9.05 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Insider Buying and Selling

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $445,692.42. Following the transaction, the chief executive officer directly owned 127,471 shares of the company’s stock, valued at $14,634,945.51. The trade was a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 35,973 shares of company stock worth $3,927,169. Insiders own 0.06% of the company’s stock.

About Newmont

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.