First Trust Direct Indexing L.P. Grows Stock Position in Newmont Co. (NYSE:NEM)

First Trust Direct Indexing L.P. lifted its stake in Newmont Co. (NYSE:NEM) by 13.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 30,571 shares of the basic materials company’s stock after buying an additional 3,676 shares during the period. First Trust Direct Indexing L.P.’s holdings in Newmont were worth $1,634,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NEM. Norden Group LLC bought a new stake in shares of Newmont in the first quarter worth about $1,431,000. HB Wealth Management LLC grew its stake in shares of Newmont by 67.9% in the first quarter. HB Wealth Management LLC now owns 8,176 shares of the basic materials company’s stock worth $293,000 after purchasing an additional 3,306 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Newmont by 4.4% in the first quarter. J.W. Cole Advisors Inc. now owns 8,134 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 346 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Newmont by 38.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 321,622 shares of the basic materials company’s stock valued at $11,527,000 after acquiring an additional 88,900 shares in the last quarter. Finally, Pullen Investment Management LLC bought a new stake in Newmont during the 1st quarter valued at approximately $1,463,000. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

Newmont stock opened at $45.45 on Friday. The company has a market cap of $51.74 billion, a price-to-earnings ratio of -29.90, a PEG ratio of 0.40 and a beta of 0.50. The firm’s fifty day moving average is $53.04 and its 200 day moving average is $47.05. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last released its quarterly 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 business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. Sell-side analysts forecast that Newmont Co. will post 3.13 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NEM shares. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday. Veritas upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, August 29th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the company from $67.00 to $54.00 in a report on Wednesday. Finally, BMO Capital Markets upped their price objective on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.85.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following 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 sale 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 company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is currently owned by company insiders.

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.