6,175 Shares of Newmont Corporation $NEM Bought by Montz Harcus Wealth Management LLC

Montz Harcus Wealth Management LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,175 shares of the basic materials company’s stock, valued at approximately $712,000.

Several other institutional investors have also added to or reduced their stakes in NEM. BlackRock Inc. acquired a new position in shares of Newmont in the 2nd quarter worth approximately $11,289,753,000. State Street Corp raised its stake in 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 buying an additional 1,565,716 shares during the last quarter. Van ECK Associates Corp bought a new position in Newmont during the second quarter worth $671,197,000. Bank of New York Mellon Corp acquired a new position in Newmont in the second quarter valued at $1,219,505,000. Finally, First Eagle Investment Management LLC bought a new stake in Newmont during the second quarter valued at $241,820,000. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NEM shares. Barclays lowered their price objective on Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a research report on Tuesday, July 28th. Weiss Ratings upgraded Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 2nd. The Goldman Sachs Group dropped their price target on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Canadian Imperial Bank of Commerce set a $170.00 price target on Newmont in a report on Friday, August 14th. Finally, Jefferies Financial Group lowered their price objective on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. 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 company. According to MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $134.26.

Insider Transactions at Newmont

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the company’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 sale, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. This represents a 5.43% decrease in their position. The SEC filing for this sale provides additional information. 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. 0.06% of the stock is owned by company insiders.

Newmont Trading Up 2.1%

Shares of NEM stock opened at $117.93 on Friday. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The firm has a market cap of $124.26 billion, a P/E ratio of 14.89, a PEG ratio of 1.62 and a beta of 0.51. The company has a 50 day moving average of $120.83 and a 200-day moving average of $110.29. Newmont Corporation has a 12-month low of $76.05 and a 12-month high of $135.29.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The business had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. Sell-side analysts anticipate that Newmont Corporation will post 9.06 earnings per share for the current 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 of this dividend was Thursday, September 3rd. Newmont’s dividend payout ratio is currently 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.