Harry M. Iv Conger Acquires 9,498 Shares of Newmont Co. (NYSE:NEM) Stock

Newmont Co. (NYSE:NEM) Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction dated Wednesday, November 27th. The shares were acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Newmont Stock Down 2.5 %

Shares of NEM stock traded down $1.03 during trading on Monday, hitting $40.91. 12,521,048 shares of the company were exchanged, compared to its average volume of 10,511,048. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market capitalization of $46.57 billion, a price-to-earnings ratio of -26.90, a P/E/G ratio of 0.36 and a beta of 0.51. The business’s 50-day simple moving average is $49.09 and its 200 day simple moving average is $47.49. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72.

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

Newmont Announces Dividend

The firm also recently announced 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 2.44%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analyst Upgrades and Downgrades

NEM has been the subject of several research reports. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Bernstein Bank raised their price objective on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Jefferies Financial Group upped their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $54.31.

Institutional Trading of Newmont

Institutional investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC lifted its stake in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the last quarter. Hoese & Co LLP acquired a new stake in Newmont in the third quarter valued at approximately $27,000. Prospera Private Wealth LLC acquired a new stake in Newmont in the third quarter valued at approximately $28,000. Highline Wealth Partners LLC acquired a new stake in Newmont in the third quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. acquired a new stake in Newmont in the second quarter valued at approximately $27,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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.