MML Investors Services LLC Has $5.58 Million Position in Newmont Co. (NYSE:NEM)

MML Investors Services LLC boosted its holdings in Newmont Co. (NYSE:NEM) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,301 shares of the basic materials company’s stock after acquiring an additional 5,695 shares during the period. MML Investors Services LLC’s holdings in Newmont were worth $5,575,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont during the 2nd quarter valued at $27,000. Hoese & Co LLP acquired a new stake in Newmont during the third quarter worth about $27,000. Avior Wealth Management LLC increased its stake in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Newmont in the third quarter valued at about $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NEM. 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. Royal Bank of Canada reduced 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 report on Thursday, October 24th. Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $59.00 to $55.00 in a report on Friday, October 25th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and cut their price target for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated 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 owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares in the company, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. 0.06% of the stock is currently owned by insiders.

Newmont Stock Down 1.7 %

Shares of NYSE:NEM opened at $41.56 on Friday. The company has a market cap of $47.31 billion, a price-to-earnings ratio of -27.50, a PEG ratio of 0.35 and a beta of 0.49. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The firm has a fifty day moving average price of $46.99 and a two-hundred day moving average price of $47.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last posted its 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 business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. Newmont’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Analysts anticipate that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is -65.79%.

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.