Crumly & Associates Inc. Acquires New Holdings in Newmont Corporation $NEM

Crumly & Associates Inc. acquired a new position in Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,023 shares of the basic materials company’s stock, valued at approximately $1,156,000.

Several other large investors also recently made changes to their positions in NEM. Cedar Mountain Advisors LLC acquired a new position in shares of Newmont during the 1st quarter worth about $25,000. Pinnacle Bancorp Inc. bought a new position in Newmont in the 1st quarter worth approximately $25,000. GoalVest Advisory LLC bought a new stake in shares of Newmont in the third quarter valued at approximately $28,000. Clearstead Trust LLC acquired a new stake in shares of Newmont in the second quarter worth $25,000. Finally, Kilter Group LLC bought a new position in Newmont during the second quarter worth $26,000. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE NEM traded down $2.28 during trading on Wednesday, reaching $114.11. The company had a trading volume of 1,890,069 shares, compared to its average volume of 8,668,215. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The business’s 50 day moving average price is $119.50 and its 200-day moving average price is $109.99. The stock has a market cap of $120.23 billion, a PE ratio of 14.38, a PEG ratio of 1.62 and a beta of 0.51.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the previous year, the company earned $1.43 EPS. Analysts expect that Newmont Corporation will post 9.09 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed 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. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont’s dividend payout ratio is currently 13.13%.

Insider Activity at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $445,692.42. Following the completion of the transaction, the chief executive officer owned 127,471 shares in the company, valued at $14,634,945.51. This trade represents a 2.96% decrease in their position. The sale 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, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was 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 in the company, valued at $3,081,659.16. This trade represents a 28.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on NEM. Royal Bank Of Canada lifted their target price on Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. The Goldman Sachs Group lowered their price objective on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Macquarie Infrastructure cut their target price on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. Sanford C. Bernstein decreased their price target on shares of Newmont from $147.00 to $144.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. Finally, Citigroup lowered their price target on shares of Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Two research 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.26.

Newmont Company 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.