Elevated Capital Advisors LLC Purchases 2,077 Shares of Newmont Co. (NYSE:NEM)

Elevated Capital Advisors LLC lifted its holdings in Newmont Co. (NYSE:NEM) by 11.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,908 shares of the basic materials company’s stock after acquiring an additional 2,077 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Newmont were worth $741,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC raised its stake in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the last quarter. Hoese & Co LLP bought a new position in Newmont in the 3rd quarter worth approximately $27,000. Prospera Private Wealth LLC bought a new position in Newmont in the 3rd quarter worth approximately $28,000. Highline Wealth Partners LLC bought a new position in Newmont in the 3rd quarter valued at $32,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Newmont in the 2nd quarter valued at $27,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. The Goldman Sachs Group started coverage on Newmont in a report on Monday. They issued a “buy” rating and a $47.20 price target on the stock. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Bernstein Bank raised their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, CLSA initiated coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given 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 an average target price of $53.80.

Newmont Stock Performance

Shares of Newmont stock traded up $0.05 during trading on Monday, hitting $39.15. 7,928,646 shares of the stock were exchanged, compared to its average volume of 8,076,110. The company has a fifty day moving average price of $40.74 and a 200-day moving average price of $46.93. The stock has a market capitalization of $44.57 billion, a price-to-earnings ratio of -25.76, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. 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 1-year low of $29.42 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. As a group, equities analysts predict that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Insider Activity at Newmont

In other news, Director Harry M. Iv Conger bought 9,498 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

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.