Newmont Co. (NYSE:NEM) Position Lowered by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC decreased its position in shares of Newmont Co. (NYSE:NEM) by 8.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,755 shares of the basic materials company’s stock after selling 1,662 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Newmont were worth $949,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. American International Group Inc. raised its position in shares of Newmont by 24.8% during the fourth quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock valued at $12,116,000 after buying an additional 58,217 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Newmont in the fourth quarter valued at about $3,313,000. GLOBALT Investments LLC GA acquired a new position in Newmont during the fourth quarter worth approximately $2,570,000. Bessemer Group Inc. lifted its position in Newmont by 7.5% during the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock worth $271,000 after acquiring an additional 529 shares during the last quarter. Finally, Herr Investment Group LLC acquired a new position in shares of Newmont in the second quarter valued at about $419,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 29th. CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and upped their target price for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $48.00 to $59.00 in a research note on Monday, August 19th. Finally, Bank of America boosted their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.31.

Newmont Stock Up 1.7 %

Shares of Newmont stock traded up $0.90 on Friday, hitting $54.30. The company had a trading volume of 7,422,929 shares, compared to its average volume of 10,260,595. The firm has a market capitalization of $62.31 billion, a P/E ratio of -25.61, a P/E/G ratio of 0.43 and a beta of 0.50. The stock has a 50-day moving average of $52.00 and a 200-day moving average of $45.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $56.30.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the prior year, the company earned $0.33 EPS. Newmont’s revenue for the quarter was up 64.1% on a year-over-year basis. Research analysts predict that Newmont Co. will post 3.1 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. Newmont’s payout ratio is -47.17%.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,000 shares of company stock valued at $3,434,640. Corporate insiders own 0.06% of the company’s stock.

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.