ORG Partners LLC Purchases 4,948 Shares of Newmont Co. (NYSE:NEM)

ORG Partners LLC lifted its position in Newmont Co. (NYSE:NEM) by 22.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,644 shares of the basic materials company’s stock after buying an additional 4,948 shares during the quarter. ORG Partners LLC’s holdings in Newmont were worth $992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NEM. Avior Wealth Management LLC grew its position in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the last quarter. Hoese & Co LLP bought a new stake in Newmont during the 3rd quarter valued at approximately $27,000. Prospera Private Wealth LLC acquired a new stake in Newmont in the 3rd quarter valued at approximately $28,000. Highline Wealth Partners LLC bought a new position in Newmont in the 3rd quarter worth approximately $32,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Newmont during the second quarter worth approximately $27,000. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NEM shares. Raymond James lowered their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Jefferies Financial Group boosted their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, CLSA began coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.31.

Newmont Trading Up 1.1 %

Shares of NYSE NEM traded up $0.42 during mid-day trading on Friday, hitting $39.55. The company’s stock had a trading volume of 2,449,556 shares, compared to its average volume of 6,779,146. The company’s fifty day simple moving average is $40.86 and its 200-day simple moving average is $46.88. The stock has a market cap of $45.03 billion, a price-to-earnings ratio of -26.02, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last issued its earnings results 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). The company had revenue of $4.61 billion for 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%. Newmont’s quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. On average, sell-side analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were issued a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.53%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Insider Transactions at Newmont

In other Newmont news, Director Harry M. Iv Conger acquired 9,498 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the transaction, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

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.