Everence Capital Management Inc. Boosts Stock Position in Newmont Co. (NYSE:NEM)

Everence Capital Management Inc. raised its holdings in shares of Newmont Co. (NYSE:NEM) by 90.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 30,530 shares of the basic materials company’s stock after buying an additional 14,460 shares during the quarter. Everence Capital Management Inc.’s holdings in Newmont were worth $1,136,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Strategic Financial Concepts LLC purchased a new position in Newmont in the second quarter worth about $25,000. Meeder Asset Management Inc. purchased a new position in shares of Newmont in the 2nd quarter worth approximately $27,000. Hoese & Co LLP bought a new position in shares of Newmont during the 3rd quarter valued at approximately $27,000. Avior Wealth Management LLC raised its holdings in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in Newmont in the third quarter worth $28,000. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Harry M. Iv Conger acquired 9,498 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by company insiders.

Newmont Trading Down 0.7 %

Shares of NYSE:NEM opened at $38.11 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 company has a market capitalization of $43.39 billion, a PE ratio of -25.07, a P/E/G ratio of 0.35 and a beta of 0.49. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The business’s fifty day simple moving average is $41.76 and its 200-day simple moving average is $47.01.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the business posted $0.36 earnings per share. The firm’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, equities research analysts predict that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were given a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. Newmont’s payout ratio is -65.79%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent analyst reports. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. Royal Bank of Canada cut their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Jefferies Financial Group raised their price target on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Raymond James cut their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Finally, CLSA began coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus target price of $54.31.

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.