TD Private Client Wealth LLC Increases Stock Position in Newmont Co. (NYSE:NEM)

TD Private Client Wealth LLC grew its holdings in Newmont Co. (NYSE:NEM) by 27.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,471 shares of the basic materials company’s stock after purchasing an additional 742 shares during the quarter. TD Private Client Wealth LLC’s holdings in Newmont were worth $186,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Strategic Financial Concepts LLC purchased a new position in shares of Newmont in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of Newmont in the second quarter valued at approximately $27,000. Hoese & Co LLP purchased a new position in shares of Newmont in the third quarter valued at approximately $27,000. Avior Wealth Management LLC boosted its stake in shares of 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 purchasing an additional 326 shares during the period. Finally, Prospera Private Wealth LLC purchased a new position in shares of Newmont in the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In other Newmont news, Director Harry M. Iv Conger bought 9,498 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. The trade was a 189.96 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Down 3.2 %

NEM stock opened at $40.22 on Monday. 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 Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company’s 50 day moving average is $46.50 and its two-hundred day moving average is $47.39. The stock has a market cap of $45.79 billion, a P/E ratio of -26.46, a PEG ratio of 0.36 and a beta of 0.49.

Newmont (NYSE:NEM) last released 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 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 firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. Research analysts expect that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced 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 of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.49%. Newmont’s payout ratio is -65.79%.

Wall Street Analyst Weigh In

NEM has been the subject of several recent research reports. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Thursday, August 29th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. Finally, UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.31.

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.