13,785 Shares in Newmont Corporation $NEM Bought by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust FSB acquired 13,785 Newmont shares in the third quarter, valued at approximately $1.59 million. Institutional investors and hedge funds collectively own 68.85% of Newmont.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $134.26, despite several firms recently lowering their targets.
• Newmont reported quarterly EPS of $2.10, exceeding estimates of $2.05, and maintains a quarterly dividend of $0.26, or $1.04 annually, yielding about 0.9%. Insiders have sold 35,973 shares worth roughly $3.93 million over the past 90 days.

MassMutual Private Wealth & Trust FSB acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 13,785 shares of the basic materials company's stock, valued at approximately $1,590,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Newmont in the 2nd quarter valued at about $11,289,753,000. Van ECK Associates Corp purchased a new position in Newmont during the 2nd quarter worth approximately $671,197,000. Bank of New York Mellon Corp purchased a new position in Newmont during the 2nd quarter worth approximately $1,219,505,000. First Eagle Investment Management LLC acquired a new position in Newmont during the second quarter worth approximately $241,820,000. Finally, Amundi acquired a new position in Newmont during the second quarter worth approximately $209,411,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NEM shares. Jefferies Financial Group decreased their price objective on Newmont from $158.00 to $146.00 and set a "buy" rating for the company in a report on Monday, July 6th. Bank of America cut their target price on shares of Newmont from $157.00 to $132.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. The Goldman Sachs Group reduced their price target on shares of Newmont from $122.50 to $111.40 and set a "buy" rating for the company in a research report on Wednesday, July 1st. Raymond James Financial reiterated an "outperform" rating and set a $140.00 price target on shares of Newmont in a research note on Monday, August 24th. Finally, Citigroup lowered their price objective on shares of Newmont from $150.00 to $125.00 and set a "buy" rating on the stock in a research report on Monday, July 20th. Two equities research 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's stock. Based on data from MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and an average target price of $134.26.

Newmont Price Performance

Newmont stock opened at $115.93 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The business has a 50 day simple moving average of $119.01 and a 200-day simple moving average of $109.92. Newmont Corporation has a 12 month low of $76.05 and a 12 month high of $135.29. The stock has a market capitalization of $122.15 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.61 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data 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 firm 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 posted $1.43 EPS. Equities analysts predict that Newmont Corporation will post 9.09 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont's payout ratio is currently 13.13%.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the transaction, the executive vice president owned 34,315 shares of the company's stock, valued at $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the sale, the chief executive officer directly owned 135,235 shares of the company's stock, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 35,973 shares of company stock worth $3,927,169. Company insiders own 0.06% of the company's stock.

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.

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