Northeast Investment Management Invests $214,000 in Newmont Co. (NYSE:NEM)

Northeast Investment Management purchased a new stake in Newmont Co. (NYSE:NEM) during the 3rd quarter, according to the company in its most recent disclosure 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 institutional investors have also bought and sold shares of NEM. Janney Montgomery Scott LLC boosted its stake in Newmont by 38.2% in the first quarter. Janney Montgomery Scott LLC now owns 321,622 shares of the basic materials company’s stock worth $11,527,000 after purchasing an additional 88,900 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Newmont during the first quarter worth $118,000. Mutual of America Capital Management LLC raised its position in shares of Newmont by 6.0% during the first quarter. Mutual of America Capital Management LLC now owns 212,453 shares of the basic materials company’s stock worth $7,614,000 after acquiring an additional 11,974 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Newmont during the first quarter worth $182,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Newmont by 51.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 55,161 shares of the basic materials company’s stock worth $1,977,000 after acquiring an additional 18,661 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

NEM stock opened at $45.76 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $52.78 and a 200-day 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) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 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 company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, equities analysts anticipate 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. Shareholders of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.19%. Newmont’s dividend payout ratio is -65.79%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NEM shares. BMO Capital Markets boosted their target price on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Raymond James boosted their target price on Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada dropped their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.85.

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 Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the company’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 value of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock worth $2,444,440 over the last 90 days. Company 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.