Cowa LLC Buys Shares of 3,867 Newmont Co. (NYSE:NEM)

Cowa LLC bought a new stake in Newmont Co. (NYSE:NEM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,867 shares of the basic materials company’s stock, valued at approximately $207,000.

A number of other institutional investors have also recently added to or reduced their stakes in NEM. Empirical Finance LLC lifted its stake in Newmont by 5.3% in the first quarter. Empirical Finance LLC now owns 29,901 shares of the basic materials company’s stock valued at $1,072,000 after acquiring an additional 1,506 shares during the last quarter. Empowered Funds LLC raised its position in shares of Newmont by 102.9% in the first quarter. Empowered Funds LLC now owns 25,453 shares of the basic materials company’s stock valued at $912,000 after purchasing an additional 12,908 shares during the period. Forsta AP Fonden raised its position in shares of Newmont by 9.6% in the first quarter. Forsta AP Fonden now owns 252,100 shares of the basic materials company’s stock valued at $9,035,000 after purchasing an additional 22,100 shares during the period. Significant Wealth Partners LLC raised its position in shares of Newmont by 218.7% in the first quarter. Significant Wealth Partners LLC now owns 89,560 shares of the basic materials company’s stock valued at $3,210,000 after purchasing an additional 61,462 shares during the period. Finally, Atomi Financial Group Inc. bought a new position in shares of Newmont in the first quarter valued at approximately $316,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NEM shares. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. BMO Capital Markets lifted their price target on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Raymond James lifted their price target on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $59.00 to $55.00 in a research report on Friday, October 25th. Finally, Jefferies Financial Group boosted their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Nine investment 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 stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $53.85.

Newmont Trading Down 0.3 %

Shares of Newmont stock opened at $45.04 on Friday. The firm has a market capitalization of $51.28 billion, a PE ratio of -29.63, a price-to-earnings-growth ratio of 0.37 and a beta of 0.51. 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 company’s fifty day moving average price is $52.17 and its two-hundred day moving average price is $47.34. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last issued its 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 firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the firm posted $0.36 EPS. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, analysts expect that Newmont Co. will post 3.15 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders 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 dividend yield of 2.22%. Newmont’s dividend payout ratio is presently -65.79%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 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 value of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated 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 owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,000 shares of company stock worth $2,444,440. Corporate 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.