Newmont Corporation $NEM Shares Newly Acquired by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the third quarter, Holdings Channel.com reports. The firm purchased 6,452 shares of the basic materials company’s stock, valued at approximately $744,000.

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

Newmont Trading Up 2.1%

Shares of NEM opened at $117.93 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. The stock has a market cap of $124.26 billion, a PE ratio of 14.89, a PEG ratio of 1.62 and a beta of 0.51. Newmont Corporation has a 1 year low of $76.05 and a 1 year high of $135.29. The stock has a 50 day simple moving average of $120.83 and a 200-day simple moving average of $110.29.

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 analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the prior year, the business posted $1.43 earnings per share. On average, sell-side analysts predict that Newmont Corporation will post 9.06 EPS for the current fiscal year.

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Bank of America decreased their price target on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Royal Bank Of Canada lifted their price target on shares of Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. BNP Paribas Exane dropped their price objective on Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. Finally, National Bank Financial upped their target price on shares of Newmont from $120.00 to $140.00 and gave the company a “sector perform” rating in a research note on Monday, September 21st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $134.26.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 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 $344,430.00. Following the completion of the transaction, the executive vice president directly owned 34,315 shares of the company’s stock, valued at $3,939,705.15. This trade represents a 8.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 approximately $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 35,973 shares of company stock worth $3,927,169 in the last quarter. 0.06% of the stock is owned by corporate insiders.

About Newmont

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.