Becker Capital Management Inc. Acquires 31,647 Shares of Newmont Co. (NYSE:NEM)

Becker Capital Management Inc. increased its position in Newmont Co. (NYSE:NEM) by 6.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 488,039 shares of the basic materials company’s stock after acquiring an additional 31,647 shares during the quarter. Becker Capital Management Inc.’s holdings in Newmont were worth $26,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Atlas Capital Advisors LLC grew its holdings in shares of Newmont by 3.6% in the second quarter. Atlas Capital Advisors LLC now owns 5,190 shares of the basic materials company’s stock worth $329,000 after acquiring an additional 180 shares during the period. Berman Capital Advisors LLC grew its holdings in shares of Newmont by 6.3% in the third quarter. Berman Capital Advisors LLC now owns 3,207 shares of the basic materials company’s stock worth $174,000 after acquiring an additional 191 shares during the period. MBA Advisors LLC grew its holdings in shares of Newmont by 5.3% in the second quarter. MBA Advisors LLC now owns 3,819 shares of the basic materials company’s stock worth $242,000 after acquiring an additional 193 shares during the period. Integrated Advisors Network LLC grew its holdings in shares of Newmont by 5.7% in the second quarter. Integrated Advisors Network LLC now owns 3,599 shares of the basic materials company’s stock worth $228,000 after acquiring an additional 194 shares during the period. Finally, FLC Capital Advisors grew its holdings in Newmont by 2.9% during the second quarter. FLC Capital Advisors now owns 7,120 shares of the basic materials company’s stock valued at $451,000 after purchasing an additional 200 shares during the period. 77.70% of the stock is owned by institutional investors.

In other Newmont news, CEO Thomas Ronald Palmer sold 7,000 shares of the company’s stock in a transaction on Friday, October 1st. The stock was sold at an average price of $54.65, for a total transaction of $382,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Blake Rhodes sold 500 shares of the company’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $58.10, for a total value of $29,050.00. Following the sale, the senior vice president now owns 48,726 shares of the company’s stock, valued at approximately $2,830,980.60. The disclosure for this sale can be found here. In the last three months, insiders sold 36,491 shares of company stock worth $1,998,540. 0.12% of the stock is owned by insiders.

Shares of NEM traded down $0.02 during mid-day trading on Thursday, reaching $55.47. 3,601,194 shares of the company’s stock traded hands, compared to its average volume of 6,417,626. The stock has a market cap of $44.23 billion, a P/E ratio of 21.92 and a beta of 0.23. The stock’s 50-day moving average is $55.82 and its two-hundred day moving average is $61.00. Newmont Co. has a 12 month low of $53.03 and a 12 month high of $75.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.67 and a quick ratio of 2.31.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 28th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.28). The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $3.12 billion. Newmont had a net margin of 16.67% and a return on equity of 10.94%. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. Research analysts predict that Newmont Co. will post 3.07 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 28th. Investors of record on Thursday, December 9th will be paid a $0.55 dividend. The ex-dividend date is Wednesday, December 8th. This represents a $2.20 annualized dividend and a yield of 3.97%. Newmont’s dividend payout ratio (DPR) is currently 86.96%.

NEM has been the subject of several recent research reports. KeyCorp initiated coverage on Newmont in a report on Friday, September 24th. They set a “sector weight” rating for the company. Raymond James lowered their price objective on Newmont from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, October 29th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating and lowered their price objective for the company from $81.00 to $69.00 in a research report on Friday, October 29th. National Bank Financial lowered their price objective on Newmont from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, National Bankshares lowered their price objective on Newmont from C$95.00 to C$92.00 and set an “outperform” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Hold” and an average price target of $71.00.

Newmont Profile

Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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