Secure Asset Management LLC Makes New $444,000 Investment in Newmont Corporation $NEM

Secure Asset Management LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 21,229 shares of the basic materials company’s stock, valued at approximately $444,000.

Several other institutional investors also recently bought and sold shares of the business. Pinnacle Bancorp Inc. bought a new stake in Newmont during the 1st quarter valued at $25,000. Cedar Mountain Advisors LLC bought a new position in Newmont in the first quarter worth about $25,000. Clearstead Trust LLC bought a new position in Newmont in the second quarter worth about $25,000. Kilter Group LLC purchased a new stake in shares of Newmont during the second quarter valued at about $26,000. Finally, Swiss RE Ltd. bought a new stake in shares of Newmont in the 4th quarter valued at about $26,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on NEM. Citigroup lowered their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, July 20th. UBS Group decreased their price target on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. National Bank Financial lowered their price target on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Argus set a $110.00 price target on Newmont in a research note on Monday, August 3rd. Finally, Jefferies Financial Group decreased their price objective on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.73.

Newmont Stock Performance

Shares of NYSE NEM opened at $125.13 on Thursday. The company has a 50 day simple moving average of $105.83 and a two-hundred day simple moving average of $109.56. The stock has a market cap of $131.84 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.73 and a beta of 0.52. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $73.44 and a 12 month high of $135.29.

Newmont (NYSE:NEM) last posted its quarterly earnings results 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. The company 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 period in the prior year, the company earned $1.43 earnings per share. As a group, analysts predict that Newmont Corporation will post 9.01 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president directly owned 40,315 shares in the company, valued at $3,767,436.75. This trade represents a 6.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction dated 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 transaction, the chief executive officer owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This represents a 5.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,209 shares of company stock valued at $2,567,701 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.