Waddell & Associates LLC Buys 1,104 Shares of Newmont Co. (NYSE:NEM)

Waddell & Associates LLC raised its stake in shares of Newmont Co. (NYSE:NEM) by 16.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 7,773 shares of the basic materials company’s stock after buying an additional 1,104 shares during the quarter. Waddell & Associates LLC’s holdings in Newmont were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its holdings in Newmont by 28.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 37,489 shares of the basic materials company’s stock worth $1,344,000 after purchasing an additional 8,224 shares during the period. Bessemer Group Inc. lifted its stake in Newmont by 7.5% in the 1st quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 529 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Newmont during the 1st quarter valued at about $62,000. EP Wealth Advisors LLC grew its position in shares of Newmont by 11.0% during the first quarter. EP Wealth Advisors LLC now owns 30,569 shares of the basic materials company’s stock valued at $1,096,000 after purchasing an additional 3,028 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Newmont in the first quarter worth about $51,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Performance

NYSE NEM opened at $43.37 on Friday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The firm has a 50 day moving average of $50.23 and a two-hundred day moving average of $47.42. 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 (NYSE:NEM) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share 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 for the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the firm earned $0.36 EPS. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. Sell-side analysts predict that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. The trade was a 3.17 % decrease in their position. 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 on 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 transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock valued at $2,444,440 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NEM shares. Royal Bank of Canada decreased their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. Raymond James increased their price objective 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. Veritas upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 29th. Finally, Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.85.

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.