Orion Portfolio Solutions LLC Grows Position in Newmont Co. (NYSE:NEM)

Orion Portfolio Solutions LLC lifted its position in shares of Newmont Co. (NYSE:NEM) by 58.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,851 shares of the basic materials company’s stock after purchasing an additional 5,489 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Newmont were worth $794,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI purchased a new stake in shares of Newmont in the 3rd quarter worth about $98,011,000. iSAM Funds UK Ltd grew its holdings in Newmont by 15.5% in the third quarter. iSAM Funds UK Ltd now owns 16,208 shares of the basic materials company’s stock worth $866,000 after purchasing an additional 2,179 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Newmont by 31.4% during the third quarter. EP Wealth Advisors LLC now owns 45,225 shares of the basic materials company’s stock valued at $2,417,000 after purchasing an additional 10,811 shares in the last quarter. Insigneo Advisory Services LLC purchased a new position in shares of Newmont during the third quarter valued at approximately $204,000. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of Newmont by 6.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 90,782 shares of the basic materials company’s stock worth $4,852,000 after purchasing an additional 5,776 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NEM. CLSA started coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Raymond James reduced their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.31.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont 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 transaction, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. The trade was a 6.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Down 0.3 %

NYSE:NEM opened at $40.09 on Tuesday. The company has a 50 day simple moving average of $46.24 and a two-hundred day simple moving average of $47.38. The company has a market cap of $45.63 billion, a PE ratio of -26.37, a price-to-earnings-growth ratio of 0.36 and a beta of 0.49. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm 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%. The firm’s revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. Research analysts forecast that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

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.