Newmont Co. (NYSE:NEM) Shares Acquired by Carmel Capital Partners LLC

Carmel Capital Partners LLC boosted its stake in Newmont Co. (NYSE:NEM) by 4.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,221 shares of the basic materials company’s stock after acquiring an additional 226 shares during the quarter. Carmel Capital Partners LLC’s holdings in Newmont were worth $279,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cowa LLC acquired a new stake in Newmont in the 3rd quarter valued at $207,000. Carson Advisory Inc. purchased a new position in Newmont in the 3rd quarter valued at $206,000. Equitable Trust Co. purchased a new position in Newmont in the 3rd quarter valued at $202,000. Heritage Wealth Management Inc. lifted its holdings in Newmont by 8.0% in the 3rd quarter. Heritage Wealth Management Inc. now owns 5,795 shares of the basic materials company’s stock valued at $310,000 after purchasing an additional 430 shares in the last quarter. Finally, Summit Global Investments purchased a new position in Newmont in the 3rd quarter valued at $404,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NEM shares. BMO Capital Markets raised their price objective on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Raymond James lifted their price target on Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada reduced their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. Finally, Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.85.

Newmont Trading Down 0.3 %

NYSE:NEM opened at $45.04 on Friday. The stock has a fifty day moving average price of $52.17 and a two-hundred day moving average price of $47.34. 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 debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72.

Newmont (NYSE:NEM) last released 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 business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the company posted $0.36 EPS. The company’s revenue was up 84.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 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 value of $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 value 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 $15,293,378.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by corporate insiders.

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.