Elevated Capital Advisors LLC Has $741,000 Holdings in Newmont Co. (NYSE:NEM)

Elevated Capital Advisors LLC grew its holdings in shares of Newmont Co. (NYSE:NEM) by 11.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,908 shares of the basic materials company’s stock after acquiring an additional 2,077 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Newmont were worth $741,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. American Century Companies Inc. raised its position in Newmont by 3.7% in the second quarter. American Century Companies Inc. now owns 854,837 shares of the basic materials company’s stock valued at $35,792,000 after purchasing an additional 30,685 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Newmont in the 2nd quarter valued at approximately $27,000. Meeder Advisory Services Inc. grew its holdings in Newmont by 72.1% during the 2nd quarter. Meeder Advisory Services Inc. now owns 13,012 shares of the basic materials company’s stock worth $545,000 after acquiring an additional 5,452 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Newmont by 129.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 544,178 shares of the basic materials company’s stock valued at $22,785,000 after acquiring an additional 307,212 shares during the period. Finally, Wilkins Investment Counsel Inc. increased its position in Newmont by 1.7% in the 2nd quarter. Wilkins Investment Counsel Inc. now owns 607,608 shares of the basic materials company’s stock valued at $25,441,000 after acquiring an additional 10,241 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NEM shares. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Bernstein Bank lifted their target price on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $59.00 to $55.00 in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.80.

Newmont Stock Performance

Shares of NEM stock traded up $0.05 on Monday, hitting $39.15. 7,928,646 shares of the stock were exchanged, compared to its average volume of 8,076,110. The firm’s 50 day moving average is $40.74 and its two-hundred day moving average is $46.93. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $44.57 billion, a PE ratio of -25.76, a P/E/G ratio of 0.35 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period last year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. Sell-side analysts expect that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s dividend payout ratio is -65.79%.

Insider Activity at Newmont

In other Newmont news, Director Harry M. Iv Conger bought 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

Newmont 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.