Jeppson Wealth Management LLC Purchases Shares of 4,043 Newmont Co. (NYSE:NEM)

Jeppson Wealth Management LLC purchased a new stake in shares of Newmont Co. (NYSE:NEM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,043 shares of the basic materials company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Empowered Funds LLC boosted its holdings in Newmont by 102.9% during the 1st quarter. Empowered Funds LLC now owns 25,453 shares of the basic materials company’s stock worth $912,000 after acquiring an additional 12,908 shares during the last quarter. Atomi Financial Group Inc. purchased a new position in Newmont during the 1st quarter worth $316,000. Sei Investments Co. boosted its holdings in Newmont by 67.5% during the 1st quarter. Sei Investments Co. now owns 203,859 shares of the basic materials company’s stock worth $7,307,000 after acquiring an additional 82,165 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of Newmont by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock worth $271,000 after buying an additional 278 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Newmont by 12.0% in the 1st quarter. US Bancorp DE now owns 138,203 shares of the basic materials company’s stock worth $4,953,000 after buying an additional 14,857 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James boosted their price target on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada lowered their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. BMO Capital Markets boosted their price objective on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $59.00 to $55.00 in a research note on Friday, October 25th. Nine research 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’s stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $54.14.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the 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 $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock valued at $2,444,440 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Down 6.0 %

NEM stock opened at $42.34 on Tuesday. 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 company’s 50 day moving average is $52.17 and its 200 day moving average is $47.46. The stock has a market cap of $48.20 billion, a price-to-earnings ratio of -27.86, a price-to-earnings-growth ratio of 0.37 and a beta of 0.51. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72.

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

Newmont Announces Dividend

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. This represents a $1.00 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -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.