Newmont Co. (NYSE:NEM) Position Raised by Waverton Investment Management Ltd

Waverton Investment Management Ltd increased its position in shares of Newmont Co. (NYSE:NEM) by 14.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 531,041 shares of the basic materials company’s stock after purchasing an additional 65,075 shares during the period. Waverton Investment Management Ltd’s holdings in Newmont were worth $28,379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. LRI Investments LLC bought a new position in shares of Newmont in the first quarter valued at $25,000. Strategic Financial Concepts LLC bought a new position in shares of Newmont in the second quarter valued at $25,000. Meeder Asset Management Inc. bought a new position in shares of Newmont in the second quarter valued at $27,000. Hoese & Co LLP bought a new position in shares of Newmont in the third quarter valued at $27,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Newmont in the third quarter valued at $32,000. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’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 sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,000 shares of company stock valued at $2,444,440. Insiders own 0.06% of the company’s stock.

Newmont Stock Down 6.0 %

Newmont stock opened at $42.34 on Tuesday. The firm has a market cap of $48.20 billion, a price-to-earnings ratio of -27.86, a P/E/G ratio of 0.37 and a beta of 0.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The firm has a fifty day moving average price of $52.17 and a two-hundred day moving average price of $47.46.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. As a group, analysts forecast that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

Analyst Ratings Changes

NEM has been the topic of several research reports. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Thursday, August 29th. Jefferies Financial Group lifted their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. BMO Capital Markets lifted their price objective on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada lowered their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Finally, Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $54.14.

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.