Decker Wealth Management LLC Buys New Holdings in Newmont Corporation $NEM

Decker Wealth Management LLC bought a new position in Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,614 shares of the basic materials company’s stock, valued at approximately $994,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Newmont during the 2nd quarter valued at about $36,180,000. Asset One Wealth Management LLC acquired a new stake in Newmont during the 2nd quarter worth approximately $2,866,000. Private Advisory Group LLC acquired a new stake in Newmont during the 2nd quarter worth approximately $10,430,000. Commerce Bank bought a new position in Newmont in the second quarter valued at approximately $3,418,000. Finally, Qtron Investments LLC boosted its holdings in shares of Newmont by 63.5% in the fourth quarter. Qtron Investments LLC now owns 27,945 shares of the basic materials company’s stock valued at $2,790,000 after buying an additional 10,853 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Stock Up 2.1%

NYSE:NEM traded up $2.38 on Friday, hitting $117.93. 4,830,513 shares of the company’s stock were exchanged, compared to its average volume of 8,644,920. The company has a market cap of $124.26 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51. The firm has a 50-day moving average price of $120.34 and a 200-day moving average price of $110.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29.

Newmont (NYSE:NEM) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period last year, the company earned $1.43 earnings per share. As a group, analysts expect that Newmont Corporation will post 9.1 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 28th. Investors 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 was Thursday, September 3rd. Newmont’s payout ratio is presently 13.13%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Thursday, October 1st. The shares were 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 in the company, valued at $3,939,705.15. This trade 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 through 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 business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NEM shares. Sanford C. Bernstein lowered their price objective on shares of Newmont from $147.00 to $144.00 and set an “outperform” rating for the company in a research report on Wednesday, September 9th. BMO Capital Markets upped their target price on shares of Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 29th. UBS Group lowered their target price on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. National Bank Financial boosted their price target on Newmont from $120.00 to $140.00 and gave the company a “sector perform” rating in a report on Monday, September 21st. Finally, Argus set a $110.00 price objective on Newmont in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $134.26.

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.