Cwm LLC Has $1.02 Million Stock Position in Newmont Co. (NYSE:NEM)

Cwm LLC grew its position in Newmont Co. (NYSE:NEM) by 11.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,111 shares of the basic materials company’s stock after acquiring an additional 1,930 shares during the quarter. Cwm LLC’s holdings in Newmont were worth $1,021,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in Newmont in the second quarter worth approximately $27,000. LRI Investments LLC bought a new position in shares of Newmont during the 1st quarter valued at $25,000. Heritage Wealth Advisors lifted its stake in shares of Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares during the last quarter. Crewe Advisors LLC bought a new stake in Newmont in the first quarter worth $35,000. Finally, Rise Advisors LLC increased its position in Newmont by 2,373.2% during the first quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after buying an additional 973 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the sale, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on 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 transaction, the executive vice president now directly 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 SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were 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 $15,420,830.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NEM has been the subject of several recent analyst reports. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $48.00 to $59.00 in a research note on Monday, August 19th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Jefferies Financial Group boosted their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Finally, BMO Capital Markets lifted their target price on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus target price of $53.46.

Newmont Stock Up 0.4 %

NYSE NEM opened at $56.49 on Friday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $57.32. The stock has a market cap of $65.14 billion, a PE ratio of -21.16, a PEG ratio of 0.43 and a beta of 0.50. The firm has a 50-day simple moving average of $52.69 and a 200 day simple moving average of $46.11. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 EPS. On average, research analysts forecast that Newmont Co. will post 3.1 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

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.