Adams Natural Resources Fund Inc. Has $9.09 Million Stock Position in Newmont Co. (NYSE:NEM)

Adams Natural Resources Fund Inc. lowered its stake in Newmont Co. (NYSE:NEM) by 1.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 170,100 shares of the basic materials company’s stock after selling 2,200 shares during the period. Newmont makes up 1.3% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 18th largest holding. Adams Natural Resources Fund Inc.’s holdings in Newmont were worth $9,092,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of NEM. LRI Investments LLC acquired a new position in Newmont in the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC bought a new stake in Newmont in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. bought a new stake in Newmont in the 2nd quarter valued at about $27,000. Hoese & Co LLP bought a new stake in Newmont in the 3rd quarter valued at about $27,000. Finally, Heritage Wealth Advisors boosted its holdings in Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is currently owned by company insiders.

Newmont Price Performance

Shares of NYSE:NEM opened at $47.80 on Wednesday. The company has a market cap of $54.42 billion, a price-to-earnings ratio of -31.45, a PEG ratio of 0.40 and a beta of 0.50. 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 has a 50 day simple moving average of $53.26 and a 200 day simple moving average of $47.06. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Newmont (NYSE:NEM) last announced 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 business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the company posted $0.36 earnings per share. The company’s revenue was up 84.7% compared to the same quarter last year. Research analysts predict that Newmont Co. will post 3.13 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.09%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is currently -65.79%.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent research reports. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, August 29th. Royal Bank of Canada cut their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Raymond James upped their price target on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. BMO Capital Markets upped their price target on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $59.00 to $55.00 in a report on Friday, October 25th. 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.85.

Newmont 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.