Newmont Co. (NYSE:NEM) Shares Bought by Ellsworth Advisors LLC

Ellsworth Advisors LLC lifted its stake in shares of Newmont Co. (NYSE:NEM) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,205 shares of the basic materials company’s stock after acquiring an additional 985 shares during the quarter. Ellsworth Advisors LLC’s holdings in Newmont were worth $640,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. Heathbridge Capital Management Ltd. boosted its position in Newmont by 2.0% during the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 200 shares during the period. E. Ohman J or Asset Management AB boosted its holdings in shares of Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after buying an additional 200 shares during the period. Fulton Bank N.A. grew its stake in Newmont by 1.5% in the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after buying an additional 221 shares during the last quarter. Carmel Capital Partners LLC lifted its position in Newmont by 4.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after acquiring an additional 226 shares during the last quarter. Finally, Good Life Advisors LLC lifted its position in Newmont by 4.6% during the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after acquiring an additional 229 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent analyst reports. Veritas upgraded Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $59.00 to $55.00 in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.80.

Insider Transactions at Newmont

In related news, Director Harry M. Iv Conger bought 9,498 shares of Newmont stock in a transaction dated Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock valued at $563,080 in the last three months. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

Newmont stock opened at $41.72 on Tuesday. The business has a 50 day simple moving average of $40.29 and a 200 day simple moving average of $46.89. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company has a market capitalization of $47.50 billion, a PE ratio of -27.45, a price-to-earnings-growth ratio of 0.31 and a beta of 0.50. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Newmont (NYSE:NEM) last issued 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 firm had revenue of $4.61 billion during 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 revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, sell-side analysts forecast that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Newmont Company Profile

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.