Carson Advisory Inc. Invests $206,000 in Newmont Co. (NYSE:NEM)

Carson Advisory Inc. acquired a new stake in Newmont Co. (NYSE:NEM) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,853 shares of the basic materials company’s stock, valued at approximately $206,000.

Other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in shares of Newmont during the 1st quarter valued at approximately $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont during the second quarter worth $25,000. Meeder Asset Management Inc. bought a new position in shares of Newmont in the second quarter worth $27,000. Hoese & Co LLP purchased a new stake in Newmont during the 3rd quarter worth about $27,000. Finally, Highline Wealth Partners LLC bought a new position in Newmont in the 3rd quarter worth about $32,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Down 0.3 %

Shares of NYSE:NEM opened at $45.04 on Friday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock’s 50-day moving average price is $52.17 and its 200-day moving average price is $47.34. The stock has a market capitalization of $51.28 billion, a P/E ratio of -29.63, a price-to-earnings-growth ratio of 0.37 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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). 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 the consensus estimate of $4.67 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, equities analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NEM shares. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Raymond James increased their target price on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $59.00 to $55.00 in a report on Friday, October 25th. 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 research note on Thursday, October 24th. Finally, BMO Capital Markets upped their target price on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.85.

Insider Activity

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 transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,000 shares of company stock valued at $2,444,440. Insiders own 0.06% of the company’s stock.

About Newmont

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.