Modera Wealth Management LLC Buys 5,487 Shares of Newmont Corporation $NEM

Modera Wealth Management LLC purchased a new stake in Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,487 shares of the basic materials company’s stock, valued at approximately $633,000.

Several other hedge funds also recently added to or reduced their stakes in NEM. Accel Wealth Management boosted its position in shares of Newmont by 0.8% in the second quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company’s stock worth $1,377,000 after buying an additional 115 shares during the period. Compound Planning Inc. raised its holdings in shares of Newmont by 0.6% during the 1st quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock valued at $2,294,000 after buying an additional 121 shares during the period. Center for Financial Planning Inc. raised its holdings in shares of Newmont by 6.7% during the 3rd quarter. Center for Financial Planning Inc. now owns 1,921 shares of the basic materials company’s stock valued at $222,000 after buying an additional 121 shares during the period. Zhang Financial LLC lifted its position in Newmont by 0.8% during the 1st quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company’s stock worth $1,707,000 after acquiring an additional 124 shares in the last quarter. Finally, Heartland Bank & Trust Co boosted its holdings in Newmont by 3.0% in the 1st quarter. Heartland Bank & Trust Co now owns 4,331 shares of the basic materials company’s stock worth $469,000 after acquiring an additional 127 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NEM. Sanford C. Bernstein increased their price objective on shares of Newmont from $144.00 to $150.00 in a research report on Friday, October 16th. Royal Bank Of Canada increased their target price on Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. TD Cowen decreased their price objective on shares of Newmont from $133.00 to $131.00 in a report on Tuesday, October 20th. BMO Capital Markets increased their target price on Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. Finally, TD Securities upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.20.

Newmont Price Performance

NEM opened at $109.03 on Tuesday. The firm has a market cap of $113.31 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51. Newmont Corporation has a fifty-two week low of $78.60 and a fifty-two week high of $135.29. The company’s 50-day moving average price is $120.16 and its 200 day moving average price is $112.46. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The firm had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter last year, the company posted $1.71 earnings per share. Newmont’s revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts expect that Newmont Corporation will post 9.11 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 25th. Newmont’s dividend payout ratio is presently 12.09%.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $445,692.42. Following the sale, the chief executive officer owned 127,471 shares of the company’s stock, valued at approximately $14,634,945.51. This trade represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president owned 34,315 shares of the company’s stock, valued at $3,939,705.15. This represents a 8.04% 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. In the last 90 days, insiders have sold 32,973 shares of company stock valued at $3,646,819. Insiders own 0.06% of the company’s stock.

Newmont Profile

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.