Newmont Co. (NYSE:NEM) Shares Purchased by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC raised its holdings in Newmont Co. (NYSE:NEM) by 6.7% in the third quarter, Holdings Channel.com reports. The fund owned 7,050 shares of the basic materials company’s stock after acquiring an additional 442 shares during the period. Main Street Financial Solutions LLC’s holdings in Newmont were worth $377,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Heathbridge Capital Management Ltd. raised its stake in Newmont by 2.0% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after purchasing an additional 200 shares during the last quarter. E. Ohman J or Asset Management AB increased its holdings in shares of Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after purchasing an additional 200 shares during the period. Fulton Bank N.A. raised its position in shares of Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after buying an additional 221 shares during the last quarter. Carmel Capital Partners LLC lifted its stake in shares of Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after buying an additional 226 shares during the period. Finally, Good Life Advisors LLC grew its position in Newmont by 4.6% during the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after buying an additional 229 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research reports. BMO Capital Markets raised their price objective on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada reduced their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, Raymond James lifted their target price 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. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $54.14.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 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 $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $2,444,440 in the last quarter. Insiders own 0.06% of the company’s stock.

Newmont Trading Down 1.4 %

Shares of NEM opened at $40.67 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $51.52 and a two-hundred day moving average price of $47.41. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. As a group, equities research analysts forecast that Newmont Co. will post 3.15 earnings per share 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

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.