Heritage Wealth Management Inc. Has $310,000 Stock Position in Newmont Co. (NYSE:NEM)

Heritage Wealth Management Inc. grew its stake in Newmont Co. (NYSE:NEM) by 8.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,795 shares of the basic materials company’s stock after acquiring an additional 430 shares during the period. Heritage Wealth Management Inc.’s holdings in Newmont were worth $310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEM. Red Cedar Investment Management LLC acquired a new position in shares of Newmont in the third quarter valued at approximately $1,263,000. Bessemer Group Inc. boosted its stake in Newmont by 7.5% in the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock valued at $271,000 after buying an additional 529 shares in the last quarter. Herr Investment Group LLC bought a new stake in shares of Newmont during the second quarter worth $419,000. Truist Financial Corp increased its holdings in Newmont by 8.1% in the 2nd quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock worth $6,295,000 after purchasing an additional 11,276 shares in the last quarter. Finally, Cetera Trust Company N.A acquired a new stake in Newmont during the 3rd quarter worth approximately $705,000. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

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 completion of the sale, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $4,928,780.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on NEM. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, August 29th. BMO Capital Markets upped their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Jefferies Financial Group upped their price target on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $53.85.

Newmont Price Performance

Shares of NYSE:NEM traded up $0.05 during midday trading on Friday, reaching $45.21. 563,526 shares of the company were exchanged, compared to its average volume of 10,395,631. 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 market cap of $51.47 billion, a PE ratio of -29.71, a price-to-earnings-growth ratio of 0.38 and a beta of 0.51. The business’s fifty day moving average is $52.49 and its two-hundred day moving average is $47.30. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’s revenue was up 84.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. As a group, analysts predict that Newmont Co. will post 3.12 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. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. Newmont’s dividend payout ratio is presently -65.79%.

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.