Seelaus Asset Management LLC Makes New Investment in Newmont Corporation $NEM

Seelaus Asset Management LLC purchased a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,540 shares of the basic materials company’s stock, valued at approximately $524,000.

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

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research reports. TD raised their price objective on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Citigroup reduced their target price 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. Barclays reduced their target price on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Sanford C. Bernstein dropped their price target on shares of Newmont from $147.00 to $144.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.26.

Newmont Trading Down 4.1%

NEM stock traded down $4.69 during trading on Wednesday, hitting $110.90. The company had a trading volume of 2,447,397 shares, compared to its average volume of 8,563,553. The stock has a market cap of $116.85 billion, a PE ratio of 14.03, a PEG ratio of 2.17 and a beta of 0.51. The business has a 50-day moving average of $121.61 and a 200-day moving average of $110.60. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. Newmont Corporation has a one year low of $76.05 and a one year high of $135.29.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the prior year, the firm posted $1.43 EPS. Research analysts predict that Newmont Corporation will post 9.05 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were given a dividend of $0.26 per share. 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 is 13.13%.

Insider Buying and Selling at Newmont

In other news, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction dated 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 completion of the transaction, 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 SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated 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 directly owned 34,315 shares in the company, valued at $3,939,705.15. This represents a 8.04% 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. Over the last quarter, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is currently owned by insiders.

Newmont 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.