Hoese & Co LLP Makes New Investment in Newmont Co. (NYSE:NEM)

Hoese & Co LLP acquired a new position in shares of Newmont Co. (NYSE:NEM) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 500 shares of the basic materials company’s stock, valued at approximately $27,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEM. UMB Bank n.a. lifted its position in Newmont by 21.1% during the third quarter. UMB Bank n.a. now owns 3,750 shares of the basic materials company’s stock valued at $200,000 after purchasing an additional 654 shares during the last quarter. Cadinha & Co. LLC bought a new position in shares of Newmont in the 3rd quarter valued at about $17,916,000. Sanibel Captiva Trust Company Inc. purchased a new position in Newmont in the third quarter worth about $357,000. Wedmont Private Capital increased its stake in Newmont by 28.2% during the third quarter. Wedmont Private Capital now owns 9,618 shares of the basic materials company’s stock worth $510,000 after acquiring an additional 2,118 shares during the last quarter. Finally, CWM LLC raised its position in Newmont by 11.2% during the third quarter. CWM LLC now owns 19,111 shares of the basic materials company’s stock valued at $1,021,000 after purchasing an additional 1,930 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Up 1.3 %

NYSE:NEM opened at $53.40 on Friday. 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 50-day simple moving average of $51.80 and a 200-day simple moving average of $45.35. Newmont Co. has a one year low of $29.42 and a one year high of $56.30. The firm has a market cap of $61.27 billion, a P/E ratio of -25.19, a P/E/G ratio of 0.43 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $4.13 billion. During the same period in the previous year, the company posted $0.33 EPS. The business’s revenue for the quarter was up 64.1% compared to the same quarter last year. Equities analysts anticipate that Newmont Co. will post 3.1 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio is currently -47.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NEM. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. UBS Group boosted their price objective on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Finally, Bank of America raised their price objective on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Five investment 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 company. According to data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $53.31.

Insider Transactions at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’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 sale, the chief executive officer now directly owns 311,469 shares in the company, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Newmont news, 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 value of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,000 shares of company stock valued at $3,434,640 in the last 90 days. Insiders own 0.06% of the company’s stock.

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.