Rock Point Advisors LLC Invests $208,000 in Newmont Co. (NYSE:NEM)

Rock Point Advisors LLC bought a new stake in shares of Newmont Co. (NYSE:NEM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,898 shares of the basic materials company’s stock, valued at approximately $208,000.

Several other hedge funds also recently bought and sold shares of NEM. LRI Investments LLC purchased a new position in shares of Newmont in the first quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new position in Newmont in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in Newmont in the 2nd quarter worth approximately $27,000. Hoese & Co LLP purchased a new stake in Newmont during the 3rd quarter valued at approximately $27,000. Finally, Avior Wealth Management LLC raised its position in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s 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 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 position. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock worth $2,444,440 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research reports. Scotiabank lowered 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. Jefferies Financial Group raised their price objective on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, UBS Group cut Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Trading Down 0.7 %

Shares of Newmont stock traded down $0.28 during trading on Tuesday, hitting $42.18. The stock had a trading volume of 772,189 shares, compared to its average volume of 10,508,987. The stock has a market cap of $48.02 billion, a PE ratio of -27.93, a PEG ratio of 0.38 and a beta of 0.51. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The firm’s fifty day simple moving average is $50.01 and its 200-day simple moving average is $47.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, sell-side analysts expect that Newmont Co. will post 3.09 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.37%. Newmont’s dividend payout ratio (DPR) is -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.