nVerses Capital LLC Takes Position in Newmont Co. (NYSE:NEM)

nVerses Capital LLC purchased 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 firm purchased 12,700 shares of the basic materials company’s stock, valued at approximately $679,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Fulton Bank N.A. raised its holdings in shares of Newmont by 1.5% during the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after purchasing an additional 221 shares in the last quarter. Pekin Hardy Strauss Inc. raised its holdings in Newmont by 0.4% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 64,082 shares of the basic materials company’s stock worth $2,683,000 after acquiring an additional 233 shares during the period. KCM Investment Advisors LLC raised its holdings in Newmont by 2.3% in the 2nd quarter. KCM Investment Advisors LLC now owns 10,819 shares of the basic materials company’s stock worth $453,000 after acquiring an additional 244 shares during the period. Meeder Advisory Services Inc. raised its holdings in Newmont by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock worth $271,000 after acquiring an additional 278 shares during the period. Finally, Moody National Bank Trust Division raised its holdings in Newmont by 1.7% in the 1st quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock worth $647,000 after acquiring an additional 296 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NYSE:NEM traded up $0.40 on Thursday, reaching $56.67. The stock had a trading volume of 1,810,458 shares, compared to its average volume of 10,158,312. The company has a market capitalization of $65.35 billion, a P/E ratio of -21.07, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $57.32. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $52.51 and a 200-day moving average price of $46.04.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating 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 firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period in the previous year, the business earned $0.33 earnings per share. The company’s revenue for the quarter was up 64.1% compared to the same quarter last year. Research analysts forecast that Newmont Co. will post 3.1 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio is presently -37.45%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NEM. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. UBS Group boosted their price objective on shares of Newmont from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Bank of America boosted their price objective on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Five 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

Insiders Place Their Bets

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 shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,000 shares of company stock valued at $3,434,640. 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.