Jeppson Wealth Management LLC Makes New Investment in Newmont Corporation $NEM

Jeppson Wealth Management LLC acquired a new position in Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,059 shares of the basic materials company’s stock, valued at approximately $699,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont during the 1st quarter valued at about $25,000. Pinnacle Bancorp Inc. bought a new stake in Newmont in the first quarter worth approximately $25,000. GoalVest Advisory LLC bought a new stake in Newmont in the third quarter worth approximately $28,000. Clearstead Trust LLC acquired a new position in Newmont in the second quarter valued at approximately $25,000. Finally, Kilter Group LLC acquired a new position in Newmont in the second quarter valued at approximately $26,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NYSE:NEM opened at $118.03 on Tuesday. The company has a quick ratio of 2.26, a current ratio of 2.55 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 stock’s 50 day moving average is $122.08 and its 200-day moving average is $110.96. The firm has a market capitalization of $124.37 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.20 and a beta of 0.51.

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, topping 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 company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same period last year, the business earned $1.43 EPS. Sell-side analysts forecast that Newmont Corporation will post 9.05 EPS for the current fiscal year.

Newmont Announces Dividend

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

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 shares were sold at an average price of $114.81, for a total transaction 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 trade represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. The trade was a 5.43% 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. Over the last 90 days, insiders have sold 35,973 shares of company stock worth $3,927,169. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NEM. Canadian Imperial Bank of Commerce set a $154.00 price target on Newmont in a report on Friday. Sanford C. Bernstein lowered their price objective 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. Bank of America dropped their target price on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Argus set a $110.00 target price on shares of Newmont in a research note on Monday, August 3rd. Finally, Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.45.

About Newmont

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.