8,236 Shares in Newmont Co. (NYSE:NEM) Acquired by Nwam LLC

Nwam LLC purchased a new position in shares of Newmont Co. (NYSE:NEM) in the 3rd quarter, Holdings Channel reports. The firm purchased 8,236 shares of the basic materials company’s stock, valued at approximately $440,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NEM. Heathbridge Capital Management Ltd. increased its position in shares of Newmont by 2.0% in the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after acquiring an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of Newmont by 0.4% in the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after purchasing an additional 200 shares during the period. Fulton Bank N.A. boosted its stake in shares of Newmont by 1.5% in the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after purchasing an additional 221 shares during the period. Carmel Capital Partners LLC boosted its stake in shares of Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 226 shares during the period. Finally, Good Life Advisors LLC boosted its stake in shares of Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. This trade represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,000 shares of company stock valued at $2,444,440. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NEM. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Finally, CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.85.

Newmont Stock Up 0.1 %

NEM stock opened at $43.38 on Monday. The stock has a market cap of $49.39 billion, a PE ratio of -28.54, a price-to-earnings-growth ratio of 0.37 and a beta of 0.51. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $50.23 and its 200 day simple moving average is $47.51. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s quarterly revenue was up 84.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. As a group, sell-side analysts predict that Newmont Co. will post 3.12 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.31%. Newmont’s payout ratio is -65.79%.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.