VCI Wealth Management LLC Acquires 14,778 Shares of Newmont Corporation $NEM

VCI Wealth Management LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 14,778 shares of the basic materials company’s stock, valued at approximately $1,704,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Newmont in the 2nd quarter valued at about $11,289,753,000. State Street Corp boosted its position in shares of Newmont by 3.1% in the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after purchasing an additional 1,565,716 shares during the period. Bank of New York Mellon Corp grew its stake in Newmont by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock worth $1,324,757,000 after buying an additional 615,461 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Newmont by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock worth $1,012,792,000 after buying an additional 184,586 shares during the last quarter. Finally, Amundi grew its stake in Newmont by 4.4% during the 1st quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock worth $950,519,000 after buying an additional 372,415 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $109.03 on Tuesday. Newmont Corporation has a one year low of $78.60 and a one year high of $135.29. The stock has a market capitalization of $113.31 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.07 and a beta of 0.51. The company has a 50-day simple moving average of $120.16 and a 200-day simple moving average of $112.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45.

Newmont (NYSE:NEM) last released its quarterly 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 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 analyst estimates of $6.27 billion. During the same quarter last year, the company posted $1.71 earnings per share. The business’s revenue was up 15.2% on a year-over-year basis. On average, analysts predict that Newmont Corporation will post 9.11 EPS for the current year.

Newmont Announces Dividend

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

Insider Buying and Selling at Newmont

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 completion of the transaction, the executive vice president owned 34,315 shares in the company, valued at $3,939,705.15. This trade represents a 8.04% 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. Insiders sold a total of 32,973 shares of company stock valued at $3,646,819 in the last ninety days. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of several research analyst reports. TD lifted their price target on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. TD Cowen decreased their price objective on Newmont from $133.00 to $131.00 in a report on Tuesday, October 20th. Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Jefferies Financial Group raised their target price on shares of Newmont from $146.00 to $155.00 in a research report on Friday, October 9th. Finally, Canaccord Genuity Group cut their target price on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.20.

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.