14,579 Shares of Newmont Corporation $NEM Purchased by New Wave Wealth Advisors LLC

Key Points

• New Wave Wealth Advisors acquired 14,579 Newmont shares worth approximately $1.685 million in the third quarter. Institutional investors collectively own 68.85% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $133.45; several firms recently raised their targets.
• Newmont’s stock traded at $118.28, while the company reported quarterly earnings of $2.10 per share, exceeding estimates, and maintained a quarterly dividend of $0.26 per share.

New Wave Wealth Advisors LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,579 shares of the basic materials company's stock, valued at approximately $1,685,000.

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

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. Royal Bank Of Canada upped their target price on Newmont from $135.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 16th. Zacks Research lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Canadian Imperial Bank of Commerce set a $154.00 price target on Newmont in a report on Friday. Barclays set a $123.00 price target on Newmont in a report on Monday. Finally, TD upped their price objective on Newmont from $127.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.45.

Insider Activity

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 35,973 shares of company stock worth $3,927,169. Insiders own 0.06% of the company's stock.

Newmont Price Performance

NEM stock traded down $0.32 during trading on Monday, reaching $118.28. 2,214,038 shares of the company were exchanged, compared to its average volume of 8,540,496. The company has a market capitalization of $124.63 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 2.20 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. The company has a 50-day moving average of $122.06 and a two-hundred day moving average of $110.89. Newmont Corporation has a twelve month low of $76.05 and a twelve month high of $135.29.

Newmont (NYSE:NEM - Get Free Report) last issued its 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. The firm had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter last year, the business posted $1.43 earnings per share. As a group, equities analysts predict that Newmont Corporation will post 9.05 earnings per share for the current fiscal 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 paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont's dividend payout ratio is presently 13.13%.

Newmont 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.

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