McAlvany Wealth Management LLC Makes New $1.93 Million Investment in Newmont Corporation $NEM

McAlvany Wealth Management LLC bought a new stake in Newmont Corporation (NYSE:NEM) during the third quarter, HoldingsChannel reports. The fund bought 16,730 shares of the basic materials company’s stock, valued at approximately $1,930,000.

A number of other large investors have also added to or reduced their stakes in the company. Hourglass Capital LLC purchased a new stake in Newmont in the third quarter worth approximately $13,066,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new stake in shares of Newmont in the 3rd quarter valued at $814,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Newmont in the 2nd quarter valued at $36,180,000. Fifth Third Wealth Advisors LLC bought a new position in shares of Newmont during the 3rd quarter valued at $1,769,000. Finally, Asset One Wealth Management LLC bought a new position in shares of Newmont during the 2nd quarter valued at $2,866,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of Newmont stock opened at $109.03 on Tuesday. The firm has a market cap of $113.31 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51. Newmont Corporation has a 12-month low of $78.60 and a 12-month high of $135.29. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $120.16 and its two-hundred day simple moving average is $112.46.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the prior year, the firm posted $1.71 earnings per share. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. As a group, equities analysts expect that Newmont Corporation will post 9.11 EPS for the current year.

Newmont Announces Dividend

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

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the business’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 transaction of $445,692.42. Following the transaction, the chief executive officer directly owned 127,471 shares of the company’s stock, valued at approximately $14,634,945.51. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 shares were 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 32,973 shares of company stock worth $3,646,819. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on NEM shares. BNP Paribas Exane lifted their target price on shares of Newmont from $102.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, August 17th. Canaccord Genuity Group cut their price target on shares of Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Scotiabank reduced their price objective on Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 27th. Canadian Imperial Bank of Commerce set a $154.00 price objective on Newmont in a report on Friday, October 16th. Finally, The Goldman Sachs Group lowered their target price on Newmont from $127.50 to $119.00 in a research note on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

Newmont Company 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.