Hohimer Wealth Management LLC Has $5.63 Million Holdings in Newmont Co. (NYSE:NEM)

Hohimer Wealth Management LLC trimmed its position in shares of Newmont Co. (NYSE:NEM) by 0.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 105,361 shares of the basic materials company’s stock after selling 303 shares during the period. Newmont accounts for 1.2% of Hohimer Wealth Management LLC’s investment portfolio, making the stock its 13th largest holding. Hohimer Wealth Management LLC’s holdings in Newmont were worth $5,632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEM. Heathbridge Capital Management Ltd. boosted its stake in shares of Newmont by 2.0% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after acquiring an additional 200 shares during the period. E. Ohman J or Asset Management AB lifted its holdings in Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after purchasing an additional 200 shares during the last quarter. Fulton Bank N.A. boosted its position in Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after purchasing an additional 221 shares during the period. Carmel Capital Partners LLC increased its holdings in shares of Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 226 shares during the last quarter. Finally, Good Life Advisors LLC raised its position in shares of Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after purchasing an additional 229 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

Shares of Newmont stock opened at $41.50 on Wednesday. The company has a 50 day moving average of $47.48 and a 200-day moving average of $47.41. The company has a market cap of $47.25 billion, a PE ratio of -27.30, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share 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 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 previous year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, equities research analysts forecast that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is presently -65.79%.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. The trade was a 6.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Harry M. Iv Conger bought 9,498 shares of the stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost 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 represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NEM. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $59.00 to $55.00 in a report on Friday, October 25th. CLSA began coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Finally, Raymond James dropped their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. One equities 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

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.