Newmont Co. (NYSE:NEM) Shares Purchased by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC boosted its holdings in Newmont Co. (NYSE:NEM) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,050 shares of the basic materials company’s stock after buying an additional 442 shares during the period. Main Street Financial Solutions LLC’s holdings in Newmont were worth $377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Hoese & Co LLP acquired a new stake in shares of Newmont in the third quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $32,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont during the 2nd quarter valued at $27,000. LRI Investments LLC acquired a new position in Newmont in the first quarter valued at $25,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Newmont during the third quarter valued at about $48,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research reports. Bernstein Bank raised their price objective on Newmont from $55.00 to $58.00 in a report on Monday. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Royal Bank of Canada decreased their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Raymond James upped their price target on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.14.

Newmont Stock Down 1.4 %

NYSE NEM opened at $40.67 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The company’s fifty day moving average price is $51.52 and its two-hundred day moving average price is $47.41.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. Equities analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.46%. Newmont’s dividend payout ratio (DPR) is -65.79%.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the 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 sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,000 shares of company stock valued at $2,444,440. Corporate insiders own 0.06% of the company’s stock.

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.