15,920 Shares in Newmont Co. (NYSE:NEM) Acquired by Financial Enhancement Group LLC

Financial Enhancement Group LLC bought a new stake in Newmont Co. (NYSE:NEM) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 15,920 shares of the basic materials company’s stock, valued at approximately $851,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NEM. Concurrent Investment Advisors LLC boosted its holdings in Newmont by 19.2% during the third quarter. Concurrent Investment Advisors LLC now owns 27,798 shares of the basic materials company’s stock worth $1,486,000 after buying an additional 4,469 shares in the last quarter. Centennial Wealth Advisory LLC increased its stake in Newmont by 26.4% in the third quarter. Centennial Wealth Advisory LLC now owns 7,510 shares of the basic materials company’s stock valued at $401,000 after purchasing an additional 1,568 shares during the last quarter. Radnor Capital Management LLC acquired a new position in Newmont during the third quarter worth approximately $1,040,000. Catalina Capital Group LLC acquired a new stake in Newmont during the third quarter worth about $262,000. Finally, Cary Street Partners Asset Management LLC acquired a new position in Newmont during the third quarter valued at approximately $210,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Down 3.3 %

Shares of NYSE:NEM opened at $44.48 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The firm has a fifty day moving average of $52.49 and a two-hundred day moving average of $47.30. The firm has a market capitalization of $50.64 billion, a P/E ratio of -29.26, a price-to-earnings-growth ratio of 0.38 and a beta of 0.51.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. On average, equities analysts expect that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced 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 2.25%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is -65.79%.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NEM. Royal Bank of Canada decreased their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Jefferies Financial Group boosted their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Nine equities research 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. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.85.

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.