CWA Asset Management Group LLC Boosts Stock Position in Newmont Co. (NYSE:NEM)

CWA Asset Management Group LLC boosted its stake in Newmont Co. (NYSE:NEM – Get Rating) by 59.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,927 shares of the basic materials company’s stock after buying an additional 5,207 shares during the period. CWA Asset Management Group LLC’s holdings in Newmont were worth $657,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. Hoey Investments Inc. purchased a new stake in Newmont in the second quarter worth about $30,000. Cowa LLC bought a new position in shares of Newmont during the third quarter valued at approximately $32,000. Avion Wealth increased its stake in shares of Newmont by 4,664.7% during the third quarter. Avion Wealth now owns 810 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 793 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in shares of Newmont during the third quarter valued at approximately $34,000. Finally, Central Bank & Trust Co. increased its stake in shares of Newmont by 56.7% during the third quarter. Central Bank & Trust Co. now owns 953 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 345 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NEM shares. National Bank Financial raised their price target on shares of Newmont from C$76.00 to C$86.00 in a research report on Friday, January 13th. Raymond James dropped their target price on shares of Newmont from $61.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Barclays raised their target price on shares of Newmont from $54.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, January 30th. BNP Paribas upgraded shares of Newmont from a “neutral” rating to an “outperform” rating and set a $60.00 target price on the stock in a report on Monday, February 13th. Finally, Fundamental Research set a $51.92 target price on shares of Newmont and gave the stock a “buy” rating in a report on Tuesday, March 7th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.21.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total value of $530,530.00. Following the sale, the chief executive officer now directly owns 199,949 shares in the company, valued at approximately $9,643,540.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total value of $530,530.00. Following the sale, the chief executive officer now directly owns 199,949 shares in the company, valued at approximately $9,643,540.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $44.25, for a total transaction of $132,750.00. Following the completion of the sale, the chief operating officer now owns 87,751 shares in the company, valued at $3,882,981.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,000 shares of company stock worth $1,294,720. 0.11% of the stock is owned by corporate insiders.

Newmont Stock Up 5.2 %

NEM opened at $48.17 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.23. Newmont Co. has a fifty-two week low of $37.45 and a fifty-two week high of $86.37. The firm’s fifty day moving average is $48.39 and its 200 day moving average is $45.78. The stock has a market cap of $38.27 billion, a price-to-earnings ratio of -89.20, a price-to-earnings-growth ratio of 1.72 and a beta of 0.31.

Newmont (NYSE:NEM – Get Rating) last released its earnings results on Thursday, February 23rd. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.03). Newmont had a negative net margin of 3.60% and a positive return on equity of 6.98%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the firm posted $0.78 EPS. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that Newmont Co. will post 2.24 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 9th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Wednesday, March 8th. Newmont’s dividend payout ratio (DPR) is -296.30%.

About Newmont

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Newmont Corp. is a gold producer, engages in the exploration and acquisition of gold properties, contains copper, silver, lead, zinc or other metals. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.