Strengthening Families & Communities LLC Buys 3,610 Shares of Newmont Co. (NYSE:NEM)

Strengthening Families & Communities LLC increased its holdings in Newmont Co. (NYSE:NEM) by 8.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 44,457 shares of the basic materials company’s stock after buying an additional 3,610 shares during the period. Strengthening Families & Communities LLC’s holdings in Newmont were worth $2,376,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Quest Partners LLC bought a new stake in Newmont in the third quarter worth $1,288,000. AMG National Trust Bank increased its position in Newmont by 1.3% in the third quarter. AMG National Trust Bank now owns 99,375 shares of the basic materials company’s stock worth $5,312,000 after purchasing an additional 1,287 shares during the last quarter. Glass Wealth Management Co LLC increased its position in Newmont by 5.7% in the third quarter. Glass Wealth Management Co LLC now owns 93,237 shares of the basic materials company’s stock worth $4,984,000 after purchasing an additional 5,047 shares during the last quarter. Swiss National Bank increased its position in Newmont by 0.3% in the third quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock worth $182,938,000 after purchasing an additional 9,500 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Newmont by 10.5% in the third quarter. Thrivent Financial for Lutherans now owns 89,287 shares of the basic materials company’s stock worth $4,775,000 after purchasing an additional 8,449 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NYSE NEM opened at $40.93 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm’s 50 day moving average price is $51.11 and its 200-day moving average price is $47.44. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The company has a market cap of $46.60 billion, a PE ratio of -26.93, a P/E/G ratio of 0.34 and a beta of 0.51.

Newmont (NYSE:NEM) last released 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 negative net margin of 7.03% and a positive return on equity of 9.80%. The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the business posted $0.36 earnings per share. Newmont’s revenue for the quarter was up 84.7% on a year-over-year basis. Sell-side analysts forecast that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.44%. Newmont’s dividend payout ratio (DPR) is -65.79%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’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 $1,076,200.00. Following the completion of the sale, the chief executive officer now owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. This trade represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock worth $2,444,440 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the topic of several research reports. Royal Bank of Canada reduced their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and cut their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Finally, Raymond James increased their price objective 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 investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.14.

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.