6,710 Shares of Newmont Corporation $NEM Bought by United Capital Management of KS Inc.

United Capital Management of KS Inc. purchased a new stake in shares of Newmont Corporation (NYSE:NEM) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,710 shares of the basic materials company’s stock, valued at approximately $774,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Newmont during the second quarter valued at approximately $11,289,753,000. Van ECK Associates Corp bought a new position in shares of Newmont during the second quarter valued at about $671,197,000. Bank of New York Mellon Corp bought a new stake in Newmont during the second quarter worth $1,219,505,000. First Eagle Investment Management LLC purchased a new stake in shares of Newmont during the 2nd quarter valued at $241,820,000. Finally, Amundi purchased a new stake in Newmont during the second quarter worth about $209,411,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total value of $324,120.00. Following the completion of the transaction, the executive vice president directly owned 31,315 shares of the company’s stock, valued at $3,383,272.60. This trade represents a 8.74% decrease in their ownership of the stock. 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 3,882 shares of Newmont stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $108.04, for a total value of $419,411.28. Following the transaction, the chief executive officer directly owned 101,691 shares of the company’s stock, valued at $10,986,695.64. The trade was a 3.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 20,646 shares of company stock worth $2,380,140. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $125.13 on Tuesday. The firm has a market cap of $130.03 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 2.15 and a beta of 0.56. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $118.81 and its 200-day moving average is $112.51. Newmont Corporation has a 12-month low of $81.34 and a 12-month high of $135.29.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The company had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the firm earned $1.71 EPS. Newmont’s revenue for the quarter was up 15.2% on a year-over-year basis. Sell-side analysts predict that Newmont Corporation will post 9.14 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, November 25th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. Newmont’s dividend payout ratio is currently 12.09%.

Analysts Set New Price Targets

Several brokerages have commented on NEM. BMO Capital Markets lifted their price objective on shares of Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. RBC Dominion Securities set a $155.00 price target on shares of Newmont and gave the stock an “outperform” rating in a report on Thursday, October 22nd. National Bank Financial dropped their price objective on Newmont from $140.00 to $135.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 20th. Weiss Ratings raised Newmont from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Finally, Citigroup boosted their target price on Newmont from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

About Newmont