Claro Advisors LLC Takes $211,000 Position in Newmont Co. (NYSE:NEM)

Claro Advisors LLC bought a new position in shares of Newmont Co. (NYSE:NEM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,951 shares of the basic materials company’s stock, valued at approximately $211,000.

Other hedge funds have also added to or reduced their stakes in the company. Concord Asset Management LLC VA boosted its holdings in shares of Newmont by 6.3% during the 3rd quarter. Concord Asset Management LLC VA now owns 6,952 shares of the basic materials company’s stock worth $372,000 after buying an additional 410 shares in the last quarter. Natixis Advisors LLC boosted its stake in Newmont by 35.7% during the third quarter. Natixis Advisors LLC now owns 163,940 shares of the basic materials company’s stock worth $8,763,000 after acquiring an additional 43,153 shares in the last quarter. Empirical Finance LLC grew its holdings in Newmont by 4.8% in the third quarter. Empirical Finance LLC now owns 29,746 shares of the basic materials company’s stock worth $1,590,000 after purchasing an additional 1,354 shares during the period. Sheaff Brock Investment Advisors LLC bought a new stake in Newmont in the third quarter valued at $267,000. Finally, Dearborn Partners LLC bought a new stake in Newmont in the third quarter valued at $294,000. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NEM has been the subject of several research reports. BMO Capital Markets raised their target price on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Veritas raised Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Raymond James upped 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. Bernstein Bank lifted their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 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 $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This represents a 3.07 % decrease in their ownership of the stock. 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 Newmont stock in a transaction dated 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. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,000 shares of company stock worth $2,444,440. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $43.16 on Wednesday. The business’s fifty day simple moving average is $50.78 and its 200 day simple moving average is $47.47. The company has a current ratio of 1.96, a quick ratio of 1.73 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 market capitalization of $49.14 billion, a P/E ratio of -28.39, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period last year, the firm posted $0.36 earnings per share. Newmont’s quarterly revenue was up 84.7% compared to the same quarter last year. As a group, analysts anticipate that Newmont Co. will post 3.15 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.32%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

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.