SeaCrest Wealth Management LLC Buys New Shares in Newmont Co. (NYSE:NEM)

SeaCrest Wealth Management LLC purchased a new position in shares of Newmont Co. (NYSE:NEM) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,751 shares of the basic materials company’s stock, valued at approximately $200,000.

Other large investors also recently modified their holdings of the company. LRI Investments LLC bought a new stake in Newmont during the first quarter worth about $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Newmont during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont in the 2nd quarter valued at approximately $27,000. Hoese & Co LLP bought a new position in shares of Newmont in the third quarter valued at $27,000. Finally, Heritage Wealth Advisors increased its holdings in Newmont by 1,310.4% during the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on NEM. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and lifted their price objective for the company from $46.00 to $61.00 in a research report on Wednesday, July 10th. BNP Paribas raised Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Bank of America boosted their target price on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

Newmont Stock Up 2.0 %

Shares of NEM opened at $57.62 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $57.96. The firm’s 50 day moving average is $52.88 and its 200-day moving average is $46.26. The stock has a market capitalization of $66.44 billion, a PE ratio of -21.58, a P/E/G ratio of 0.43 and a beta of 0.50.

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

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Insider Buying and Selling

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Newmont news, EVP Peter Toth sold 3,000 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 value of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock valued at $3,434,640 over the last quarter. 0.06% of the stock is owned by company insiders.

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.