Concurrent Investment Advisors LLC Buys 4,469 Shares of Newmont Co. (NYSE:NEM)

Concurrent Investment Advisors LLC grew its stake in shares of Newmont Co. (NYSE:NEM) by 19.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,798 shares of the basic materials company’s stock after acquiring an additional 4,469 shares during the period. Concurrent Investment Advisors LLC’s holdings in Newmont were worth $1,486,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Newmont by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after buying an additional 16,190,422 shares during the period. Van ECK Associates Corp lifted its stake in Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after acquiring an additional 1,289,084 shares during the period. Legal & General Group Plc grew its holdings in Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock worth $337,909,000 after acquiring an additional 109,084 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Newmont by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after purchasing an additional 545,903 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Newmont by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock valued at $175,872,000 after purchasing an additional 313,736 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 29th. BMO Capital Markets lifted their price target on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada decreased their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and cut their target price for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $59.00 to $55.00 in a research report on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $53.85.

Newmont Trading Down 0.3 %

NYSE:NEM opened at $45.04 on Friday. 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 firm has a fifty day simple moving average of $52.17 and a 200-day simple moving average of $47.34. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The company has a market capitalization of $51.28 billion, a P/E ratio of -29.63, a PEG ratio of 0.37 and a beta of 0.51.

Newmont (NYSE:NEM) last posted its quarterly earnings results 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). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, equities research analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is presently -65.79%.

Insider Buying and Selling at Newmont

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 in the company, valued at $4,963,452.12. 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 the SEC website. In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This trade 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 at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. Company insiders own 0.06% of the company’s stock.

Newmont Company 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.