Monument Capital Management Makes New Investment in Newmont Corporation $NEM

Monument Capital Management bought a new position in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, Holdings Channel reports. The fund bought 4,867 shares of the basic materials company’s stock, valued at approximately $561,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its position in Newmont by 0.6% in the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after acquiring an additional 100 shares during the period. Accel Wealth Management lifted its position in Newmont by 0.8% during the 2nd quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company’s stock worth $1,377,000 after acquiring an additional 115 shares during the period. Bell Investment Advisors Inc grew its stake in shares of Newmont by 41.8% in the 1st quarter. Bell Investment Advisors Inc now owns 397 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 117 shares during the last quarter. Compound Planning Inc. grew its stake in shares of Newmont by 0.6% in the 1st quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock valued at $2,294,000 after purchasing an additional 121 shares during the last quarter. Finally, Zhang Financial LLC increased its holdings in shares of Newmont by 0.8% in the first quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company’s stock valued at $1,707,000 after purchasing an additional 124 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of several analyst reports. Jefferies Financial Group cut their price target on Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings raised shares of Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 2nd. Argus set a $110.00 price objective on shares of Newmont in a research report on Monday, August 3rd. Finally, Canaccord Genuity Group reduced their target price on shares of Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.26.

Newmont Stock Performance

Shares of NEM stock opened at $117.93 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $120.83 and a 200-day simple moving average of $110.29. The company has a market cap of $124.26 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.62 and a beta of 0.51. Newmont Corporation has a 12-month low of $76.05 and a 12-month high of $135.29.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same period in the previous year, the business earned $1.43 earnings per share. On average, equities analysts forecast that Newmont Corporation will post 9.06 EPS for the current year.

Newmont Announces Dividend

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

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at $14,064,440. This represents a 5.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This represents a 28.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,973 shares of company stock valued at $3,927,169 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

About Newmont

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.