Newmont Corporation $NEM Shares Newly Purchased by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,829 shares of the basic materials company’s stock, valued at approximately $788,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. bought a new stake in shares of Newmont in the first quarter valued at approximately $25,000. Cedar Mountain Advisors LLC purchased a new position in Newmont in the 1st quarter valued at approximately $25,000. Clearstead Trust LLC purchased a new position in Newmont in the 2nd quarter valued at approximately $25,000. Kilter Group LLC purchased a new position in Newmont in the 2nd quarter valued at approximately $26,000. Finally, GoalVest Advisory LLC bought a new stake in Newmont during the 3rd quarter valued at $28,000. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Newmont stock traded up $2.48 during midday trading on Thursday, reaching $114.05. 2,719,867 shares of the stock were exchanged, compared to its average volume of 8,555,460. The company’s fifty day moving average is $121.75 and its 200-day moving average is $110.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The firm has a market cap of $120.17 billion, a PE ratio of 14.38, a PEG ratio of 2.14 and a beta of 0.51. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the prior year, the company posted $1.43 EPS. On average, sell-side analysts forecast that Newmont Corporation will post 9.05 EPS for the current year.

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on NEM. UBS Group dropped their target price on Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. BNP Paribas Exane reduced their price target on Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Wall Street Zen lowered Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. TD boosted their price objective on Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Raymond James Financial reissued an “outperform” rating and set a $140.00 price objective on shares of Newmont in a report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $134.26.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 127,471 shares in the company, valued at $14,634,945.51. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was 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 in the company, valued at $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 35,973 shares of company stock valued at $3,927,169. Company insiders own 0.06% of the company’s stock.

Newmont 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.