Valeo Financial Advisors LLC Has $479,000 Holdings in Newmont Co. (NYSE:NEM)

Valeo Financial Advisors LLC decreased its stake in Newmont Co. (NYSE:NEM) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,969 shares of the basic materials company’s stock after selling 1,016 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Newmont were worth $479,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NEM. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Newmont by 257.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,922 shares of the basic materials company’s stock worth $423,000 after purchasing an additional 5,708 shares during the last quarter. LVW Advisors LLC bought a new stake in Newmont during the third quarter worth about $237,000. Strong Tower Advisory Services increased its holdings in shares of Newmont by 28.2% during the third quarter. Strong Tower Advisory Services now owns 39,100 shares of the basic materials company’s stock worth $2,090,000 after buying an additional 8,611 shares in the last quarter. Hoese & Co LLP bought a new position in shares of Newmont in the third quarter valued at approximately $27,000. Finally, UMB Bank n.a. grew its position in Newmont by 21.1% during the 3rd quarter. UMB Bank n.a. now owns 3,750 shares of the basic materials company’s stock worth $200,000 after acquiring an additional 654 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of the business’s 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 directly owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 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 $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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock worth $3,434,640 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Newmont stock opened at $54.82 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $63.22 billion, a P/E ratio of -20.53, a PEG ratio of 0.43 and a beta of 0.50. The business has a 50-day moving average of $52.15 and a 200-day moving average of $45.83. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $56.30.

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

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. Newmont’s payout ratio is -37.45%.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. Jefferies Financial Group boosted their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and upped their price objective for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $53.31.

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.