11,873 Shares of Newmont Corporation $NEM Bought by KOM Wealth Management Group LLC

KOM Wealth Management Group LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the third quarter, Holdings Channel reports. The fund acquired 11,873 shares of the basic materials company’s stock, valued at approximately $1,369,000. Newmont accounts for approximately 0.7% of KOM Wealth Management Group LLC’s portfolio, making the stock its 23rd largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Newmont in the 2nd quarter valued at about $11,289,753,000. State Street Corp raised its position in shares of 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 purchasing an additional 1,565,716 shares during the period. Van ECK Associates Corp bought a new position in shares of Newmont in the 2nd quarter worth $671,197,000. Bank of New York Mellon Corp bought a new position in shares of Newmont in the 2nd quarter worth $1,219,505,000. Finally, First Eagle Investment Management LLC acquired a new position in Newmont during the second quarter worth $241,820,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. National Bank Financial lifted their price target on Newmont from $120.00 to $140.00 and gave the company a “sector perform” rating in a research note on Monday, September 21st. Citigroup decreased their price objective on Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a report on Monday, July 20th. BMO Capital Markets lifted their target price on Newmont from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, September 29th. Finally, Canaccord Genuity Group decreased their price target on Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.26.

Insider Buying and Selling at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $445,692.42. Following the transaction, the chief executive officer owned 127,471 shares in the company, valued at $14,634,945.51. The trade was a 2.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value 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 approximately $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 35,973 shares of company stock worth $3,927,169. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $115.67 on Friday. The firm has a 50-day moving average of $121.96 and a 200-day moving average of $110.78. The company has a market cap of $121.88 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.07 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. Newmont Corporation has a one year low of $76.05 and a one year high of $135.29.

Newmont (NYSE:NEM) last released 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 net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period last year, the firm earned $1.43 earnings per share. Equities research analysts forecast that Newmont Corporation will post 9.05 EPS for the current fiscal year.

Newmont Dividend Announcement

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

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.