Newmont Co. (NYSE:NEM) Shares Acquired by Leisure Capital Management

Leisure Capital Management grew its position in Newmont Co. (NYSE:NEM) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,668 shares of the basic materials company’s stock after buying an additional 518 shares during the period. Leisure Capital Management’s holdings in Newmont were worth $1,212,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in Newmont in the 1st quarter valued at approximately $25,000. Strategic Financial Concepts LLC acquired a new stake in Newmont during the second quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new stake in Newmont in the second quarter valued at $27,000. Hoese & Co LLP purchased a new stake in Newmont in the third quarter valued at approximately $27,000. Finally, Heritage Wealth Advisors raised its holdings in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the sale, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,000 shares of company stock valued at $3,434,640. Company insiders own 0.06% of the company’s stock.

Newmont Stock Up 1.1 %

NYSE NEM traded up $0.60 during trading hours on Wednesday, reaching $56.28. 2,834,943 shares of the company traded hands, compared to its average volume of 10,177,253. The stock has a market capitalization of $64.90 billion, a PE ratio of -20.86, a PEG ratio of 0.43 and a beta of 0.50. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $57.32. The company has a 50 day moving average of $52.31 and a two-hundred day moving average of $45.97. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the prior year, the company earned $0.33 earnings per share. The firm’s revenue was up 64.1% compared to the same quarter last year. As a group, equities analysts expect that Newmont Co. will post 3.1 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.78%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio is currently -37.45%.

Analyst Ratings Changes

Several analysts have recently commented on NEM shares. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Bank of America increased their price objective on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Jefferies Financial Group increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.46.

Newmont Company 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.