Monument Capital Management Makes New Investment in Newmont Corporation $NEM

Monument Capital Management acquired a new stake in Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,867 shares of the basic materials company’s stock, valued at approximately $561,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEM. BlackRock Inc. acquired a new stake in Newmont in the 2nd quarter valued at about $11,289,753,000. Van ECK Associates Corp purchased a new position in shares of Newmont in the 2nd quarter valued at about $671,197,000. Bank of New York Mellon Corp acquired a new position in shares of Newmont during the second quarter worth about $1,219,505,000. First Eagle Investment Management LLC acquired a new position in shares of Newmont during the second quarter worth about $241,820,000. Finally, Amundi purchased a new stake in shares of Newmont during the second quarter worth approximately $209,411,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the topic of several analyst reports. Sanford C. Bernstein reduced their target price on shares of Newmont from $147.00 to $144.00 and set an “outperform” rating on the stock in a report on Wednesday, September 9th. TD increased their price objective on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. BMO Capital Markets raised their price objective on shares of Newmont from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 29th. UBS Group decreased their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Scotiabank boosted their target price on shares of Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Two equities research 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’s stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average price target of $134.26.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the sale, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. The trade was a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 dated 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 completion of the sale, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, 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 Stock Up 2.1%

NEM stock opened at $117.93 on Friday. The stock has a market cap of $124.26 billion, a P/E ratio of 14.89, a PEG ratio of 1.62 and a beta of 0.51. 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 twelve month low of $76.05 and a twelve month high of $135.29. The company’s 50 day moving average is $120.83 and its two-hundred day moving average is $110.29.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont’s dividend payout ratio is currently 13.13%.

Newmont Company 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.