Nwam LLC Acquires New Position in Newmont Co. (NYSE:NEM)

Nwam LLC acquired a new stake in shares of Newmont Co. (NYSE:NEM) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 8,236 shares of the basic materials company’s stock, valued at approximately $440,000.

Several other hedge funds have also made changes to their positions in the company. Meridian Wealth Management LLC purchased a new stake in shares of Newmont in the 3rd quarter valued at approximately $678,000. Studio Investment Management LLC grew its stake in shares of Newmont by 29.4% in the 3rd quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after buying an additional 261 shares during the period. Telemark Asset Management LLC purchased a new stake in shares of Newmont in the 3rd quarter valued at approximately $6,414,000. Raymond James Trust N.A. grew its stake in shares of Newmont by 19.4% in the 3rd quarter. Raymond James Trust N.A. now owns 11,318 shares of the basic materials company’s stock valued at $605,000 after buying an additional 1,836 shares during the period. Finally, Banco Santander S.A. grew its stake in shares of Newmont by 43.8% in the 3rd quarter. Banco Santander S.A. now owns 11,424 shares of the basic materials company’s stock valued at $611,000 after buying an additional 3,480 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on NEM. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, Raymond James raised their price objective on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $54.85.

Insider Buying and Selling at Newmont

In other Newmont 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 in the company, valued at approximately $4,963,452.12. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. This trade represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by company insiders.

Newmont Trading Up 0.1 %

NYSE NEM opened at $43.38 on Monday. 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 firm’s fifty day moving average price is $50.23 and its 200 day moving average price is $47.51. The company has a market capitalization of $49.39 billion, a price-to-earnings ratio of -28.54, a price-to-earnings-growth ratio of 0.37 and a beta of 0.51. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last posted its 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). The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’s quarterly revenue was up 84.7% on a year-over-year basis. During the same period last year, the business earned $0.36 earnings per share. On average, sell-side analysts expect that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.31%. Newmont’s dividend payout ratio is presently -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.