Sunpointe LLC Purchases Shares of 4,819 Newmont Co. (NYSE:NEM)

Sunpointe LLC acquired a new position in shares of Newmont Co. (NYSE:NEM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,819 shares of the basic materials company’s stock, valued at approximately $258,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised 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 during the last quarter. Maj Invest Holding A S increased its holdings in shares of Newmont by 296.0% in 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 purchasing an additional 2,561,823 shares during the period. Capital International Investors purchased a new position in shares of Newmont in the first quarter worth about $49,444,000. Van ECK Associates Corp lifted its holdings in shares of Newmont by 2.6% during the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after purchasing an additional 1,289,084 shares during the period. Finally, National Bank of Canada FI boosted its position in Newmont by 47.7% in the second quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock valued at $140,460,000 after buying an additional 1,088,742 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Up 1.9 %

NYSE:NEM traded up $1.07 during trading hours on Wednesday, hitting $56.75. The company had a trading volume of 1,009,404 shares, compared to its average volume of 10,169,391. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $57.32. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $52.31 and a 200 day moving average of $45.97. The company has a market cap of $65.44 billion, a P/E ratio of -20.86, a P/E/G ratio of 0.43 and a beta of 0.50.

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 the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion during 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%. Newmont’s revenue was up 64.1% compared to the same quarter last year. During the same period last year, the business earned $0.33 earnings per share. Sell-side analysts expect that Newmont Co. will post 3.1 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.76%. Newmont’s payout ratio is -37.45%.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’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 $1,076,200.00. Following the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,000 shares of company stock valued at $3,434,640 over the last quarter. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

NEM has been the subject of several recent research reports. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and upped their price objective for the stock from $46.00 to $61.00 in a research report on Wednesday, July 10th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. Finally, Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $48.00 to $59.00 in a report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Newmont currently 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.