United Capital Management of KS Inc. Makes New $774,000 Investment in Newmont Corporation $NEM

United Capital Management of KS Inc. acquired a new stake in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,710 shares of the basic materials company’s stock, valued at approximately $774,000.

A number of other hedge funds also recently made changes to their positions in the stock. GoalVest Advisory LLC purchased a new position in Newmont in the third quarter worth $28,000. Financial Management Professionals Inc. bought a new position in Newmont in the third quarter valued at $30,000. Clearstead Trust LLC purchased a new stake in Newmont during the second quarter valued at about $25,000. Signature Equity Partners LLC purchased a new stake in Newmont during the third quarter valued at about $32,000. Finally, Kilter Group LLC bought a new stake in Newmont during the second quarter worth about $26,000. 68.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NEM has been the subject of a number of research reports. Scotiabank cut their price objective on Newmont from $149.00 to $148.00 and set an “outperform” rating for the company in a report on Tuesday, October 27th. RBC Dominion Securities set a $155.00 price objective on Newmont and gave the company an “outperform” rating in a report on Thursday, October 22nd. Freedom Broker downgraded Newmont from a “buy” rating to a “hold” rating and dropped their target price for the stock from $130.00 to $116.00 in a research report on Thursday, October 22nd. Sanford C. Bernstein increased their price target on shares of Newmont from $144.00 to $150.00 in a research report on Friday, October 16th. Finally, Canaccord Genuity Group decreased their price target on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

Insider Buying and Selling

In other news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total transaction of $477,486.00. Following the completion of the sale, the chief executive officer owned 131,353 shares of the company’s stock, valued at approximately $16,156,419. This represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total transaction of $324,120.00. Following the completion of the transaction, the executive vice president owned 31,315 shares in the company, valued at $3,383,272.60. This represents a 8.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,646 shares of company stock worth $2,380,140 over the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Stock Up 3.5%

Shares of NYSE:NEM opened at $125.13 on Tuesday. The stock’s 50-day moving average price is $118.81 and its 200-day moving average price is $112.51. Newmont Corporation has a 12-month low of $81.34 and a 12-month high of $135.29. The stock has a market capitalization 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 current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15.

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 return on equity of 29.81% and a net margin of 34.73%. The firm had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the business earned $1.71 earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. On average, equities analysts anticipate that Newmont Corporation will post 9.14 earnings per share for the current year.

Newmont Dividend Announcement

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

Newmont Profile