JFS Wealth Advisors LLC Purchases 3,569 Shares of Newmont Co. (NYSE:NEM)

JFS Wealth Advisors LLC grew its position in shares of Newmont Co. (NYSE:NEM) by 716.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,067 shares of the basic materials company’s stock after purchasing an additional 3,569 shares during the period. JFS Wealth Advisors LLC’s holdings in Newmont were worth $217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in Newmont in the 1st quarter worth approximately $25,000. Strategic Financial Concepts LLC purchased a new position in shares of Newmont during the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont in the 2nd quarter worth approximately $27,000. Hoese & Co LLP purchased a new stake in shares of Newmont in the 3rd quarter valued at $27,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Newmont during the 3rd quarter valued at $32,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on NEM. BMO Capital Markets boosted their price target on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average price target of $53.85.

Newmont Stock Down 3.2 %

NYSE:NEM opened at $45.45 on Friday. The company has a 50-day moving average price of $53.04 and a 200-day moving average price of $47.05. The company has a quick ratio of 1.73, a current ratio of 1.96 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.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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). 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 during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 84.7% on a year-over-year basis. On average, research analysts expect that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. 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.