U.S. Capital Wealth Advisors LLC Boosts Stock Holdings in Newmont Co. (NYSE:NEM)

U.S. Capital Wealth Advisors LLC lifted its position in Newmont Co. (NYSE:NEM) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 281,825 shares of the basic materials company’s stock after acquiring an additional 1,607 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Newmont were worth $15,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Heathbridge Capital Management Ltd. grew its position in shares of Newmont by 2.0% in the third 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 period. Fulton Bank N.A. boosted its holdings in Newmont by 1.5% in the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after buying an additional 221 shares during the last quarter. Good Life Advisors LLC increased its stake in Newmont by 4.6% during the 3rd 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. Pekin Hardy Strauss Inc. raised its holdings in shares of Newmont by 0.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 64,082 shares of the basic materials company’s stock valued at $2,683,000 after acquiring an additional 233 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its holdings in shares of Newmont by 2.3% during the second quarter. KCM Investment Advisors LLC now owns 10,819 shares of the basic materials company’s stock valued at $453,000 after acquiring an additional 244 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on NEM. Jefferies Financial Group raised 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. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. UBS Group boosted their price objective on Newmont from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.46.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This represents a 0.00 % 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. In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This represents 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 link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock worth $3,434,640 in the last three months. 0.06% of the stock is owned by company insiders.

Newmont Trading Down 1.1 %

Shares of NYSE:NEM traded down $0.67 during mid-day trading on Wednesday, reaching $58.01. 3,472,779 shares of the company were exchanged, compared to its average volume of 10,108,283. The firm has a market cap of $66.89 billion, a price-to-earnings ratio of -21.98, a P/E/G ratio of 0.43 and a beta of 0.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm’s 50-day simple moving average is $53.25 and its 200 day simple moving average is $46.67.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The company’s revenue was up 64.1% on a year-over-year basis. Equities research analysts forecast that Newmont Co. will post 3.1 EPS for the current year.

Newmont 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.