Optimum Investment Advisors Sells 500 Shares of Newmont Co. (NYSE:NEM)

Optimum Investment Advisors lessened its stake in shares of Newmont Co. (NYSE:NEM) by 11.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,800 shares of the basic materials company’s stock after selling 500 shares during the quarter. Optimum Investment Advisors’ holdings in Newmont were worth $203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fulton Bank N.A. grew its stake in shares of Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after buying an additional 221 shares during the last quarter. Good Life Advisors LLC grew its stake in shares of Newmont by 4.6% during the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after buying an additional 229 shares during the last quarter. Pekin Hardy Strauss Inc. grew its stake in shares of Newmont by 0.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 64,082 shares of the basic materials company’s stock worth $2,683,000 after buying an additional 233 shares during the last quarter. KCM Investment Advisors LLC grew its stake in shares of Newmont by 2.3% during the second quarter. KCM Investment Advisors LLC now owns 10,819 shares of the basic materials company’s stock worth $453,000 after buying an additional 244 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in shares of Newmont by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock worth $271,000 after buying an additional 278 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 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 value of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 value of $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 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 $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock valued at $3,434,640 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Price Performance

NEM stock opened at $56.49 on Friday. The stock has a market capitalization of $65.14 billion, a PE ratio of -21.16, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50. The company’s 50-day moving average is $52.69 and its 200-day moving average is $46.11. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $57.32.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. Cibc World Mkts raised shares of 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 Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. UBS Group increased their price objective on Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday. BNP Paribas upgraded Newmont to a “strong-buy” rating in a report on Friday, June 21st. Finally, Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.46.

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.