FLC Capital Advisors Takes $242,000 Position in Newmont Co. (NYSE:NEM)

FLC Capital Advisors acquired a new stake in shares of Newmont Co. (NYSE:NEM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,521 shares of the basic materials company’s stock, valued at approximately $242,000.

Other institutional investors have also recently made changes to their positions in the company. Hoese & Co LLP acquired a new stake in shares of Newmont in the 3rd quarter worth about $27,000. Meeder Asset Management Inc. purchased a new stake in Newmont in the 2nd quarter valued at about $27,000. LRI Investments LLC bought a new position in shares of Newmont during the 1st quarter valued at approximately $25,000. Heritage Wealth Advisors grew its position in shares of Newmont by 1,310.4% during the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 878 shares during the period. Finally, Crewe Advisors LLC bought a new position in shares of Newmont during the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’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 $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,000 shares of company stock valued at $3,434,640 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NEM. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and raised their price objective for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. BMO Capital Markets increased their target price 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. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $48.00 to $59.00 in a research note on Monday, August 19th. Finally, UBS Group raised their price objective on shares of Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

Newmont Stock Performance

NYSE NEM opened at $56.27 on Thursday. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The firm has a market cap of $64.89 billion, a price-to-earnings ratio of -21.07, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $57.32. The business has a 50-day moving average price of $52.51 and a 200-day moving average price of $46.04.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. As a group, equities research analysts predict that Newmont Co. will post 3.1 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.78%. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

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.