4,000 Shares in Newmont Co. (NYSE:NEM) Acquired by Northeast Investment Management

by · The Markets Daily

Northeast Investment Management purchased a new position in shares of Newmont Co. (NYSE:NEM – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,000 shares of the basic materials company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hoese & Co LLP acquired a new position in shares of Newmont in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont in the 3rd quarter valued at approximately $32,000. Meeder Asset Management Inc. acquired a new position in shares of Newmont in the 2nd quarter valued at approximately $27,000. LRI Investments LLC acquired a new position in shares of Newmont in the 1st quarter valued at approximately $25,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Newmont in the 3rd quarter valued at approximately $48,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Peter Toth sold 3,000 shares of the 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $2,444,440 in the last quarter. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Jefferies Financial Group boosted their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.85.

Read Our Latest Stock Report on NEM

Newmont Stock Performance

Shares of Newmont stock opened at $45.76 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The business has a fifty day simple moving average of $52.78 and a 200-day simple moving average of $47.27. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM – Get Free Report) last released 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 company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. Research analysts predict that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. Newmont’s dividend payout ratio (DPR) is -65.79%.

About Newmont

(Free Report)

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.

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