KOM Wealth Management Group LLC Makes New $1.37 Million Investment in Newmont Corporation $NEM

Key Points

• KOM Wealth Management Group acquired 11,873 Newmont shares worth approximately $1.37 million in the third quarter, making the position 0.7% of its portfolio. Institutional investors collectively own 68.85% of Newmont.
• Analysts maintain a generally positive view, with Newmont holding a “Moderate Buy” consensus rating and an average price target of $134.26. Ratings include two Strong Buys, 19 Buys and three Holds.
• Newmont reported quarterly earnings of $2.10 per share, exceeding estimates by $0.05, while revenue of $6.12 billion fell short of expectations. The company also pays a quarterly dividend of $0.26 per share, equal to a 0.9% annualized yield.

KOM Wealth Management Group LLC acquired a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,873 shares of the basic materials company's stock, valued at approximately $1,369,000. Newmont accounts for 0.7% of KOM Wealth Management Group LLC's investment portfolio, making the stock its 23rd largest position.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Newmont by 0.6% in the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company's stock valued at $1,861,000 after buying an additional 100 shares during the last quarter. Accel Wealth Management increased its stake in shares of 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 buying an additional 115 shares during the period. Bell Investment Advisors Inc raised its position in shares of Newmont by 41.8% during the first quarter. Bell Investment Advisors Inc now owns 397 shares of the basic materials company's stock worth $43,000 after acquiring an additional 117 shares during the last quarter. Compound Planning Inc. raised its position in shares of Newmont by 0.6% during the first quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company's stock worth $2,294,000 after acquiring an additional 121 shares during the last quarter. Finally, Zhang Financial LLC raised its position in shares of Newmont by 0.8% during the first quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company's stock worth $1,707,000 after acquiring an additional 124 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Argus set a $110.00 price objective on Newmont in a research note on Monday, August 3rd. Royal Bank Of Canada increased their target price on shares of Newmont from $135.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday, September 16th. Wall Street Zen downgraded shares of Newmont from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. The Goldman Sachs Group lowered their price target on shares of Newmont from $122.50 to $111.40 and set a "buy" rating for the company in a report on Wednesday, July 1st. Finally, Bank of America dropped their price target on shares of Newmont from $157.00 to $132.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and an average price target of $134.26.

Newmont Stock Performance

Shares of NEM opened at $115.67 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $121.88 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51. The firm's fifty day simple moving average is $121.96 and its two-hundred day simple moving average is $110.78. Newmont Corporation has a 12 month low of $76.05 and a 12 month high of $135.29.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same period last year, the business posted $1.43 EPS. As a group, analysts predict that Newmont Corporation will post 9.05 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were given a dividend of $0.26 per share. The ex-dividend date was Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont's dividend payout ratio is presently 13.13%.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the firm'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 transaction of $445,692.42. Following the completion of the sale, the chief executive officer owned 127,471 shares of the company's stock, valued at $14,634,945.51. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 $344,430.00. Following the completion of the sale, the executive vice president owned 34,315 shares of the company's stock, valued at approximately $3,939,705.15. The trade was a 8.04% 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 35,973 shares of company stock worth $3,927,169 in the last 90 days. Corporate insiders own 0.06% of the company's stock.

About Newmont

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.