5,487 Shares of Newmont Corporation $NEM Bought by Modera Wealth Management LLC

Modera Wealth Management LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,487 shares of the basic materials company’s stock, valued at approximately $633,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Hourglass Capital LLC purchased a new position in Newmont during the third quarter worth about $13,066,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in Newmont during the third quarter worth $814,000. Northwestern Mutual Wealth Management Co. purchased a new position in Newmont in the second quarter worth $36,180,000. Fifth Third Wealth Advisors LLC purchased a new position in Newmont in the third quarter worth $1,769,000. Finally, Asset One Wealth Management LLC acquired a new stake in Newmont in the second quarter valued at $2,866,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. RBC Dominion Securities set a $155.00 price target on shares of Newmont and gave the company an “outperform” rating in a report on Thursday, October 22nd. Weiss Ratings upgraded shares of Newmont from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Royal Bank Of Canada increased their price objective on shares of Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Freedom Broker cut Newmont from a “buy” rating to a “hold” rating and lowered their target price for the company from $130.00 to $116.00 in a report on Thursday, October 22nd. Finally, Argus set a $110.00 price objective on Newmont and gave the company a “buy” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.20.

Insider Transactions at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the sale, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. This represents a 5.43% 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. Insiders have sold a total of 32,973 shares of company stock worth $3,646,819 in the last three months. Company insiders own 0.06% of the company’s stock.

Newmont Price Performance

NEM stock opened at $109.03 on Tuesday. Newmont Corporation has a 52-week low of $78.60 and a 52-week high of $135.29. The stock’s fifty day simple moving average is $120.16 and its 200-day simple moving average is $112.46. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $113.31 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.26. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the business earned $1.71 earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. Equities research analysts expect that Newmont Corporation will post 9.11 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 25th. Newmont’s dividend payout ratio is presently 12.09%.

Newmont Company Profile

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.