11,438 Shares in Newmont Corporation $NEM Bought by Curated Wealth Partners LLC

Curated Wealth Partners LLC acquired a new stake in Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 11,438 shares of the basic materials company’s stock, valued at approximately $1,319,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mainsail Asset Management LLC bought a new stake in shares of Newmont during the third quarter worth about $239,000. Nvwm LLC acquired a new position in shares of Newmont in the third quarter valued at approximately $75,000. KG Capital Management acquired a new position in shares of Newmont in the third quarter valued at approximately $383,000. Stapp Wealth Management Pllc bought a new position in Newmont in the 3rd quarter valued at approximately $485,000. Finally, Mather Group LLC. bought a new position in Newmont in the 3rd quarter valued at approximately $11,895,000. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 2.2%

Shares of NEM traded up $2.45 during trading hours on Thursday, hitting $114.01. 2,580,953 shares of the stock were exchanged, compared to its average volume of 8,554,635. Newmont Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29. The business has a 50-day moving average of $121.75 and a 200-day moving average of $110.69. The firm has a market capitalization of $120.13 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 2.14 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last released 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 for the quarter, compared to analyst estimates 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 previous year, the business earned $1.43 earnings per share. On average, research analysts expect that Newmont Corporation will post 9.05 EPS for the current year.

Newmont Dividend Announcement

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 $0.26 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s payout ratio is 13.13%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NEM. Raymond James Financial reissued an “outperform” rating and set a $140.00 target price on shares of Newmont in a report on Monday, August 24th. Canadian Imperial Bank of Commerce set a $170.00 price target on shares of Newmont in a research report on Friday, August 14th. Barclays dropped their price target on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a research note on Tuesday, July 28th. TD lifted their price target on shares of Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Two 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.26.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $344,430.00. Following the transaction, the executive vice president directly owned 34,315 shares of the company’s stock, valued at $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer 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 SEC filing for this sale provides additional information. Insiders sold 35,973 shares of company stock worth $3,927,169 in the last quarter. 0.06% of the stock is owned by corporate 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.