527 Shares in Newmont Co. (NYSE:NEM) Acquired by Prospera Private Wealth LLC

Prospera Private Wealth LLC purchased a new stake in shares of Newmont Co. (NYSE:NEM) in the third quarter, HoldingsChannel.com reports. The firm purchased 527 shares of the basic materials company’s stock, valued at approximately $28,000.

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

Newmont Price Performance

Shares of Newmont stock opened at $43.37 on Friday. The company has a 50-day simple moving average of $50.23 and a two-hundred day simple moving average of $47.42. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $49.37 billion, a price-to-earnings ratio of -28.53, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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). The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. Newmont’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 earnings per share. Analysts forecast that Newmont Co. will post 3.12 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 dividend 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 news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated 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 transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’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 of the company’s stock, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on NEM. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Jefferies Financial Group lifted their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Veritas raised shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $59.00 to $55.00 in a research report on Friday, October 25th. Finally, UBS Group cut Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.