Newmont Co. (NYSE:NEM) Shares Purchased by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC raised its holdings in Newmont Co. (NYSE:NEM) by 89.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,655 shares of the basic materials company’s stock after acquiring an additional 15,375 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Newmont were worth $1,215,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in Newmont by 129.6% during the second quarter. Envestnet Asset Management Inc. now owns 544,178 shares of the basic materials company’s stock worth $22,785,000 after buying an additional 307,212 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Newmont by 10.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 30,687 shares of the basic materials company’s stock worth $1,285,000 after acquiring an additional 2,888 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Newmont by 1.6% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 229,147 shares of the basic materials company’s stock worth $9,594,000 after acquiring an additional 3,700 shares during the period. Sei Investments Co. increased its stake in Newmont by 26.8% in the 2nd quarter. Sei Investments Co. now owns 258,572 shares of the basic materials company’s stock valued at $10,826,000 after purchasing an additional 54,713 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Newmont by 18.5% during the second quarter. Thrivent Financial for Lutherans now owns 80,838 shares of the basic materials company’s stock worth $3,385,000 after purchasing an additional 12,597 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEM has been the topic of several research reports. Raymond James lowered their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. Finally, Royal Bank of Canada reduced their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.80.

Newmont Price Performance

Newmont stock opened at $41.72 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm has a 50 day moving average price of $40.29 and a 200 day moving average price of $46.86.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS 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 analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. During the same quarter in the previous year, the company earned $0.36 earnings per share. The company’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, sell-side analysts forecast that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock valued at $563,080 in the last three months. Corporate insiders own 0.06% of the company’s stock.

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.