Mirabella Financial Services LLP Grows Stock Position in Newmont Co. (NYSE:NEM)

Mirabella Financial Services LLP boosted its position in shares of Newmont Co. (NYSE:NEM) by 40.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,031 shares of the basic materials company’s stock after buying an additional 5,500 shares during the quarter. Mirabella Financial Services LLP’s holdings in Newmont were worth $1,017,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Avior Wealth Management LLC raised its holdings in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares during the period. Hoese & Co LLP purchased a new stake in Newmont in the third quarter worth $27,000. Prospera Private Wealth LLC bought a new stake in shares of Newmont during the third quarter worth $28,000. Highline Wealth Partners LLC bought a new position in shares of Newmont in the third quarter worth about $32,000. Finally, Meeder Asset Management Inc. purchased a new position in Newmont in the 2nd quarter worth about $27,000. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,000 shares of company stock valued at $2,444,440. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $42.46 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a market cap of $48.34 billion, a PE ratio of -27.93, a PEG ratio of 0.38 and a beta of 0.51. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The business’s fifty day simple moving average is $50.01 and its 200-day simple moving average is $47.51.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the business posted $0.36 earnings per share. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. Analysts expect that Newmont Co. will post 3.09 earnings per share for the current fiscal 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.36%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is presently -65.79%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bernstein Bank upped their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Raymond James dropped their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group lifted their price objective on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Eight equities research 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 company’s stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average target price of $54.31.

Newmont 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.