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

Secure Asset Management LLC bought a new stake in Newmont Corporation (NYSE:NEM) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 21,229 shares of the basic materials company’s stock, valued at approximately $444,000.

Several other large investors have also recently made changes to their positions in NEM. Leonteq Securities AG acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $9,018,000. ARS Investment Partners LLC increased its stake in shares of Newmont by 3.6% in the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock worth $69,602,000 after acquiring an additional 23,900 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired 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 second quarter worth about $2,866,000. Finally, Private Advisory Group LLC purchased a new position in Newmont during the second quarter worth about $10,430,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Trading Up 2.0%

NYSE:NEM opened at $125.13 on Thursday. The stock has a fifty day moving average price of $105.83 and a 200 day moving average price of $109.56. 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. The firm has a market cap of $131.84 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.73 and a beta of 0.52.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 29.10% and a net margin of 33.36%.During the same quarter last year, the company earned $1.43 EPS. Sell-side analysts anticipate that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a $0.26 dividend. 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 is currently 13.13%.

Insider Activity

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 owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. This trade represents a 6.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 the company’s stock in a transaction that occurred on 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 directly owned 135,235 shares of the company’s stock, valued at $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 25,209 shares of company stock worth $2,567,701. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on NEM shares. Macquarie Infrastructure reduced their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. BNP Paribas Exane dropped their price target on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Weiss Ratings downgraded shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Barclays decreased 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. Finally, Raymond James Financial restated an “outperform” rating and set a $140.00 price target on shares of Newmont in a research note on Monday, August 24th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.73.

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.