Newmont Corporation $NEM Shares Newly Acquired by Decker Wealth Management LLC

Key Points

• Decker Wealth Management acquired 8,614 Newmont shares worth approximately $994,000, while institutional investors and hedge funds collectively own 68.85% of the company.
• Newmont shares rose 2.1% to $117.93. The company exceeded quarterly EPS expectations, reporting $2.10 versus the $2.05 consensus estimate, though revenue of $6.12 billion fell short of forecasts.
• Analysts maintain a generally bullish outlook, with a “Moderate Buy” consensus rating and an average price target of $134.26; Newmont also pays a quarterly dividend of $0.26 per share.

Decker Wealth Management LLC purchased a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,614 shares of the basic materials company's stock, valued at approximately $994,000.

Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Newmont in the 2nd quarter worth about $11,289,753,000. State Street Corp grew its stake in Newmont by 1.0% during the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company's stock worth $4,988,491,000 after buying an additional 480,223 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Newmont by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock worth $2,973,539,000 after buying an additional 5,643,496 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Newmont by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company's stock valued at $1,324,757,000 after acquiring an additional 615,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Newmont by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company's stock worth $1,012,792,000 after purchasing an additional 184,586 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 2.1%

Newmont stock traded up $2.38 during trading hours on Friday, reaching $117.93. 4,830,513 shares of the company's stock traded hands, compared to its average volume of 8,644,920. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29. The firm has a market capitalization of $124.26 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.58 and a beta of 0.51. The firm's 50 day moving average is $120.34 and its 200-day moving average is $110.23.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analysts' expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the previous year, the company earned $1.43 EPS. On average, analysts predict that Newmont Corporation will post 9.1 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were issued a dividend of $0.26 per share. 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%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEM. The Goldman Sachs Group reduced their price target on shares of Newmont from $122.50 to $111.40 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. TD raised their price objective on shares of Newmont from $127.00 to $133.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Royal Bank Of Canada upped their target price on shares of Newmont from $135.00 to $155.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 16th. Jefferies Financial Group decreased their price target on shares of Newmont from $158.00 to $146.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Finally, TD Securities raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and an average price target of $134.26.

Insider Buying and Selling at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction 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 directly owned 127,471 shares of the company's stock, valued at $14,634,945.51. The trade was a 2.96% decrease in their ownership of the stock. 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 company's 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 sale, 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 position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 35,973 shares of company stock worth $3,927,169. Insiders own 0.06% of the company's stock.

Newmont Company 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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