MFA Wealth Advisors LLC Acquires New Position in Newmont Corporation $NEM

MFA Wealth Advisors LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 29,005 shares of the basic materials company’s stock, valued at approximately $3,345,000.

Other hedge funds also recently made changes to their positions in the company. Crumly & Associates Inc. bought a new stake in shares of Newmont in the 3rd quarter valued at approximately $1,156,000. Nautilus Advisors LLC bought a new position in Newmont during the third quarter worth $331,000. Juncture Wealth Strategies LLC acquired a new position in Newmont in the third quarter worth $229,000. Rosenberg Matthew Hamilton bought a new stake in Newmont during the third quarter valued at $35,000. Finally, Neville Rodie & Shaw Inc. acquired a new stake in shares of Newmont during the third quarter worth $1,256,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the sale, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This represents a 5.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 34,315 shares of the company’s stock, valued at $3,939,705.15. This trade represents a 8.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,973 shares of company stock worth $3,927,169 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NEM. TD lifted their price target on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. UBS Group dropped their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. BMO Capital Markets raised their target price on shares of Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. Argus set a $110.00 target price on Newmont in a research note on Monday, August 3rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 target price on shares of Newmont in a report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.26.

Newmont Stock Performance

Newmont stock traded down $2.83 during mid-day trading on Wednesday, hitting $113.56. 4,344,534 shares of the company’s stock traded hands, compared to its average volume of 8,681,464. 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 one year low of $76.05 and a one year high of $135.29. The firm has a 50 day moving average price of $119.95 and a 200 day moving average price of $110.09. The company has a market cap of $119.66 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.62 and a beta of 0.51.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the prior year, the business posted $1.43 earnings per share. On average, equities analysts forecast that Newmont Corporation will post 9.09 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were issued 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 dividend payout ratio is presently 13.13%.

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.