4,426 Shares in Newmont Co. (NYSE:NEM) Bought by LVW Advisors LLC

LVW Advisors LLC acquired a new stake in Newmont Co. (NYSE:NEM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,426 shares of the basic materials company’s stock, valued at approximately $237,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Newmont by 43.8% in the 4th quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock worth $4,915,059,000 after purchasing an additional 36,170,995 shares during the period. Maj Invest Holding A S raised its stake in shares of Newmont by 296.0% during the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after buying an additional 2,561,823 shares during the period. Capital International Investors purchased a new position in shares of Newmont during the 1st quarter valued at approximately $49,444,000. Van ECK Associates Corp grew its stake in Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after acquiring an additional 1,289,084 shares during the period. Finally, National Bank of Canada FI increased its holdings in Newmont by 47.7% in the 2nd quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock worth $140,460,000 after acquiring an additional 1,088,742 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. UBS Group increased their price objective on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $48.00 to $59.00 in a report on Monday, August 19th. Jefferies Financial Group increased their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Bank of America boosted their price target on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.31.

Newmont Trading Up 1.7 %

Shares of Newmont stock opened at $54.30 on Friday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $56.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The firm has a market capitalization of $62.62 billion, a price-to-earnings ratio of -20.34, a PEG ratio of 0.43 and a beta of 0.50. The stock has a 50 day moving average of $52.00 and a 200 day moving average of $45.62.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same period last year, the company earned $0.33 EPS. The company’s quarterly revenue was up 64.1% on a year-over-year basis. As a group, research analysts predict that Newmont Co. will post 3.1 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. Newmont’s dividend payout ratio is currently -37.45%.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’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 transaction 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 approximately $15,293,378.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,000 shares of company stock valued at $3,434,640. Company insiders own 0.06% of the company’s stock.

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.