11,438 Shares in Newmont Corporation $NEM Bought by Curated Wealth Partners LLC

Curated Wealth Partners LLC bought a new position in Newmont Corporation (NYSE:NEM) during the third quarter, according to its most recent filing with the SEC. The firm bought 11,438 shares of the basic materials company’s stock, valued at approximately $1,319,000.

Several other hedge funds have also bought and sold shares of NEM. Northwestern Mutual Wealth Management Co. bought a new position in shares of Newmont in the second quarter valued at approximately $36,180,000. Asset One Wealth Management LLC purchased a new position in shares of Newmont during the second quarter valued at approximately $2,866,000. Private Advisory Group LLC purchased a new position in shares of Newmont during the second quarter valued at approximately $10,430,000. Commerce Bank purchased a new position in shares of Newmont during the second quarter valued at approximately $3,418,000. Finally, Capital Financial Group Inc. Co. ADV bought a new stake in Newmont during the second quarter worth $1,135,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM traded up $2.45 during midday trading on Thursday, reaching $114.01. The company’s stock had a trading volume of 2,580,953 shares, compared to its average volume of 8,554,635. Newmont Corporation has a 12-month low of $76.05 and a 12-month high of $135.29. The firm has a 50 day moving average price of $121.75 and a 200-day moving average price of $110.69. The stock has a market capitalization of $120.13 billion, a P/E ratio of 14.39, a PEG ratio of 2.14 and a beta of 0.51. 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 (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The company 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 business posted $1.43 earnings per share. As a group, equities analysts predict that Newmont Corporation will post 9.05 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. Stockholders of record on Thursday, September 3rd were given 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 dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Analyst Ratings Changes

A number of research firms recently commented on NEM. Argus set a $110.00 price target on Newmont in a research report on Monday, August 3rd. Barclays cut their price objective on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. 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 report on Tuesday, September 29th. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 target price on shares of Newmont in a research note on Monday, August 24th. Finally, Bank of America lowered their target price on shares of Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.26.

Insider Activity

In related news, CFO Brian Tabolt sold 11,445 shares of the business’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 transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $445,692.42. Following the transaction, the chief executive officer owned 127,471 shares of the company’s stock, valued at approximately $14,634,945.51. The trade was a 2.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 35,973 shares of company stock valued at $3,927,169 in the last ninety days. 0.06% of the stock is currently owned by insiders.

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.