Newmont Co. (NYSE:NEM) Shares Bought by Graypoint LLC

Graypoint LLC increased its position in Newmont Co. (NYSE:NEM) by 21.3% during the third quarter, Holdings Channel reports. The fund owned 8,742 shares of the basic materials company’s stock after purchasing an additional 1,538 shares during the quarter. Graypoint LLC’s holdings in Newmont were worth $467,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in shares of Newmont in the first quarter valued at approximately $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Newmont during the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in Newmont in the 2nd quarter worth approximately $27,000. Hoese & Co LLP acquired a new stake in Newmont in the 3rd quarter valued at approximately $27,000. Finally, Highline Wealth Partners LLC bought a new stake in Newmont during the 3rd quarter valued at $32,000. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Newmont 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 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. 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 available through this hyperlink. In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’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 completion of the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the transaction, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,000 shares of company stock valued at $2,444,440. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM opened at $45.04 on Friday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The stock has a market capitalization of $51.28 billion, a price-to-earnings ratio of -29.63, a PEG ratio of 0.37 and a beta of 0.51. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock’s fifty day simple moving average is $52.17 and its 200 day simple moving average is $47.34.

Newmont (NYSE:NEM) last posted its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. Newmont’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, sell-side analysts forecast that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.22%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analyst Upgrades and Downgrades

NEM has been the subject of several recent analyst reports. Raymond James increased their price target on Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. BMO Capital Markets boosted their price target on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group upped their price target on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada lowered their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Nine 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.