Seelaus Asset Management LLC Makes New $524,000 Investment in Newmont Corporation $NEM

Seelaus Asset Management LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,540 shares of the basic materials company’s stock, valued at approximately $524,000.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of Newmont by 0.6% during the first quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock worth $1,861,000 after purchasing an additional 100 shares during the period. Accel Wealth Management increased its holdings in Newmont by 0.8% during the 2nd quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company’s stock worth $1,377,000 after purchasing an additional 115 shares in the last quarter. Bell Investment Advisors Inc boosted its position in shares of Newmont by 41.8% during the first quarter. Bell Investment Advisors Inc now owns 397 shares of the basic materials company’s stock valued at $43,000 after buying an additional 117 shares during the last quarter. Compound Planning Inc. grew its holdings in Newmont by 0.6% during the first quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock worth $2,294,000 after buying an additional 121 shares in the last quarter. Finally, Zhang Financial LLC grew its stake in shares of Newmont by 0.8% in the 1st quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company’s stock worth $1,707,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock traded down $4.69 during trading hours on Wednesday, reaching $110.90. The company had a trading volume of 2,447,397 shares, compared to its average volume of 8,563,553. The firm has a market cap of $116.85 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51. Newmont Corporation has a one year low of $76.05 and a one year 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. The business has a fifty day simple moving average of $121.61 and a 200 day simple moving average of $110.60.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The company 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 period in the previous year, the company posted $1.43 EPS. On average, analysts anticipate that Newmont Corporation will post 9.05 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Insider Transactions at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the sale, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was 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 of the company’s stock, valued at approximately $3,939,705.15. The trade was a 8.04% 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 quarter, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NEM shares. BMO Capital Markets raised their price target on shares of Newmont from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, September 29th. Citigroup cut their price objective on Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Jefferies Financial Group cut their price target on shares of Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a report on Monday, July 6th. The Goldman Sachs Group dropped their target price on shares of Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Finally, Bank of America lowered their price target on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.26.

Newmont 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.