Newmont Co. (NYSE:NEM) Holdings Raised by Robinson Value Management Ltd.

Robinson Value Management Ltd. lifted its holdings in shares of Newmont Co. (NYSE:NEM) by 75.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 108,797 shares of the basic materials company’s stock after acquiring an additional 46,717 shares during the period. Newmont makes up approximately 3.8% of Robinson Value Management Ltd.’s investment portfolio, making the stock its 4th largest holding. Robinson Value Management Ltd.’s holdings in Newmont were worth $5,815,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. LRI Investments LLC acquired a new position in shares of Newmont during the 1st quarter worth approximately $25,000. Strategic Financial Concepts LLC purchased a new position in Newmont in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in Newmont in the 2nd quarter valued at $27,000. Hoese & Co LLP purchased a new position in Newmont in the 3rd quarter valued at $27,000. Finally, Heritage Wealth Advisors lifted its holdings in Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on NEM. Jefferies Financial Group lifted their price target on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. BMO Capital Markets lifted their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Thursday, August 29th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and lifted 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 issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $53.46.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, 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 value of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’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 value of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,000 shares of company stock valued at $3,434,640. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Newmont stock traded up $0.05 during mid-day trading on Monday, hitting $57.67. 3,428,329 shares of the company’s stock traded hands, compared to its average volume of 10,130,588. The firm has a 50 day moving average price of $52.88 and a 200 day moving average price of $46.39. 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 company has a market cap of $66.50 billion, a PE ratio of -21.58, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50. Newmont Co. has a one year low of $29.42 and a one year high of $58.71.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 positive return on equity of 8.35% and a negative net margin of 13.16%. The firm’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. On average, equities analysts forecast that Newmont Co. will post 3.1 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.73%. Newmont’s payout ratio is -37.45%.

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.