25,643 Shares in Newmont Co. (NYSE:NEM) Bought by Affinity Investment Advisors LLC

Affinity Investment Advisors LLC acquired a new stake in shares of Newmont Co. (NYSE:NEM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 25,643 shares of the basic materials company’s stock, valued at approximately $1,371,000.

Several other hedge funds also recently added to or reduced their stakes in NEM. LRI Investments LLC bought a new position in shares of Newmont during the first quarter worth about $25,000. Strategic Financial Concepts LLC bought a new position in Newmont during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new position in shares of Newmont in the 2nd quarter worth approximately $27,000. Hoese & Co LLP bought a new stake in shares of Newmont in the 3rd quarter valued at approximately $27,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Newmont during the 3rd quarter valued at approximately $32,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Raymond James boosted their target price on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $59.00 to $55.00 in a research report on Friday, October 25th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. BMO Capital Markets increased their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.85.

Newmont Trading Down 0.4 %

Newmont stock opened at $45.26 on Friday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The stock has a market capitalization of $51.53 billion, a PE ratio of -29.78, a price-to-earnings-growth ratio of 0.39 and a beta of 0.50. The firm has a 50 day simple moving average of $52.91 and a 200-day simple moving average of $47.09. 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 (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, equities research analysts expect that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 2.21%. Newmont’s dividend payout ratio (DPR) is -65.79%.

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, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Thomas Ronald Palmer sold 20,000 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 $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock valued at $2,444,440 in the last quarter. 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.