Sheaff Brock Investment Advisors LLC Invests $267,000 in Newmont Co. (NYSE:NEM)

Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Newmont Co. (NYSE:NEM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,986 shares of the basic materials company’s stock, valued at approximately $267,000.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Newmont by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after acquiring an additional 16,190,422 shares in the last quarter. Maj Invest Holding A S lifted its position in shares of Newmont by 296.0% during the second quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock valued at $143,502,000 after buying an additional 2,561,823 shares during the last quarter. Capital International Investors purchased a new position in shares of Newmont in the 1st quarter worth approximately $49,444,000. Van ECK Associates Corp increased its position in Newmont by 2.6% during the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after buying an additional 1,289,084 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Newmont by 262.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after acquiring an additional 1,096,905 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NYSE:NEM opened at $40.91 on Friday. The stock has a 50 day moving average of $51.11 and a two-hundred day moving average of $47.35. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The firm has a market cap of $46.57 billion, a P/E ratio of -26.91, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. 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 (NYSE:NEM) last posted its quarterly earnings data 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). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period in the prior year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, analysts expect that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm 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 dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.44%. Newmont’s dividend payout ratio is presently -65.79%.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. This represents a 6.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 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 value of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock valued at $2,444,440 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NEM shares. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Raymond James lifted their price objective on Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Argus raised 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. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Jefferies Financial Group raised their price target on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.14.

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.