6,829 Shares in Newmont Corporation $NEM Acquired by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC purchased a new position in Newmont Corporation (NYSE:NEM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,829 shares of the basic materials company’s stock, valued at approximately $788,000.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on NEM. Barclays lowered their price target on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a research note on Tuesday, July 28th. Scotiabank raised their price objective on Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Bank of America decreased their price objective on Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. TD Securities raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $140.00 target price on shares of Newmont in a research note on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.26.

Insiders Place Their Bets

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the firm’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 completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont 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 sale, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 35,973 shares of company stock worth $3,927,169. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Up 2.2%

Shares of Newmont stock traded up $2.48 during 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 has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $121.75 and its 200 day moving average is $110.69. The firm has a market cap of $120.17 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.14 and a beta of 0.51. Newmont Corporation has a 1 year low of $76.05 and a 1 year 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. The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations 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 firm earned $1.43 earnings per share. As a group, equities research analysts expect that Newmont Corporation will post 9.05 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

About Newmont

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.