Newmont Co. (NYSE:NEM) Shares Purchased by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lifted its holdings in shares of Newmont Co. (NYSE:NEM) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 90,782 shares of the basic materials company’s stock after acquiring an additional 5,776 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Newmont were worth $4,852,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wahed Invest LLC raised its position in shares of Newmont by 8.4% in the 3rd quarter. Wahed Invest LLC now owns 28,034 shares of the basic materials company’s stock valued at $1,498,000 after purchasing an additional 2,171 shares in the last quarter. Weiss Asset Management LP bought a new position in Newmont during the 3rd quarter valued at $4,300,000. Two Sigma Advisers LP increased its position in shares of Newmont by 99.8% in the 3rd quarter. Two Sigma Advisers LP now owns 601,276 shares of the basic materials company’s stock worth $32,138,000 after purchasing an additional 300,400 shares during the last quarter. Stansberry Asset Management LLC lifted its position in shares of Newmont by 16.9% during the third quarter. Stansberry Asset Management LLC now owns 6,428 shares of the basic materials company’s stock worth $344,000 after purchasing an additional 928 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in Newmont in the third quarter valued at about $359,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 0.1 %

Shares of NYSE:NEM opened at $41.11 on Monday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. 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 firm has a market cap of $46.80 billion, a P/E ratio of -27.05, a P/E/G ratio of 0.36 and a beta of 0.49. The company has a 50 day moving average of $47.72 and a 200-day moving average of $47.41.

Newmont (NYSE:NEM) last issued its quarterly 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). 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 analyst estimates of $4.67 billion. During the same period in the previous year, the company posted $0.36 earnings per share. Newmont’s revenue was up 84.7% compared to the same quarter last year. As a group, analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current fiscal 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. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.43%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group upped their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Bernstein Bank raised their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Finally, Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. This trade represents a 6.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

About Newmont

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.