National Wealth Management Group LLC Purchases Shares of 10,897 Newmont Corporation $NEM

National Wealth Management Group LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,897 shares of the basic materials company’s stock, valued at approximately $635,000.

Other hedge funds have also modified their holdings of the company. Hemington Wealth Management lifted its holdings in shares of Newmont by 17.6% during the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 170 shares during the last quarter. IVC Wealth Advisors LLC raised its holdings in Newmont by 1.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after buying an additional 173 shares during the period. L2 Asset Management LLC lifted its stake in Newmont by 3.6% during the second quarter. L2 Asset Management LLC now owns 4,987 shares of the basic materials company’s stock valued at $291,000 after buying an additional 174 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Newmont by 11.9% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after buying an additional 185 shares in the last quarter. Finally, Aaron Wealth Advisors LLC boosted its holdings in shares of Newmont by 4.4% in the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock worth $260,000 after buying an additional 190 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. National Bankshares boosted their price target on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. UBS Group boosted their target price on shares of Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a report on Monday, December 8th. Jefferies Financial Group reiterated a “buy” rating and set a $120.00 price target on shares of Newmont in a report on Sunday, December 7th. Finally, Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $96.37.

Newmont Trading Down 1.2%

Shares of NYSE:NEM opened at $98.21 on Monday. The firm has a fifty day moving average of $87.86 and a two-hundred day moving average of $74.24. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $102.13. The firm has a market capitalization of $107.17 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 0.68 and a beta of 0.41.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. Newmont’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 earnings per share. On average, equities analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s dividend payout ratio (DPR) is 15.53%.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the transaction, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 11,240 shares of company stock valued at $943,985. 0.05% of the stock is owned by corporate insiders.

About Newmont

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.