Radnor Capital Management LLC Makes New $1.04 Million Investment in Newmont Co. (NYSE:NEM)

Radnor Capital Management LLC purchased a new position in Newmont Co. (NYSE:NEM) in the third quarter, HoldingsChannel.com reports. The fund purchased 19,449 shares of the basic materials company’s stock, valued at approximately $1,040,000.

Several other institutional investors and hedge funds have also made changes to their positions in NEM. LRI Investments LLC purchased a new position in Newmont in the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Newmont in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of Newmont during the second quarter valued at approximately $27,000. Hoese & Co LLP acquired a new stake in Newmont during the third quarter worth approximately $27,000. Finally, Highline Wealth Partners LLC purchased a new stake in Newmont in the 3rd quarter worth approximately $32,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NEM. BMO Capital Markets raised their price objective on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $59.00 to $55.00 in a report on Friday, October 25th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group upped their price target on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.85.

Newmont Stock Down 3.3 %

Shares of Newmont stock opened at $44.48 on Thursday. The company has a market capitalization of $50.64 billion, a PE ratio of -29.26, a P/E/G ratio of 0.38 and a beta of 0.51. Newmont Co. has a 1-year low of $29.42 and a 1-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. The business has a 50-day moving average of $52.49 and a 200-day moving average of $47.30.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) 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 analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’s revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. As a group, equities analysts forecast that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -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.