Claro Advisors LLC Takes $845,000 Position in Newmont Co. (NYSE:NEM)

Claro Advisors LLC bought a new stake in Newmont Co. (NYSE:NEM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 15,803 shares of the basic materials company’s stock, valued at approximately $845,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hoese & Co LLP bought a new stake in shares of Newmont during the third quarter valued at approximately $27,000. Meeder Asset Management Inc. acquired a new stake in Newmont in the 2nd quarter valued at $27,000. LRI Investments LLC bought a new stake in Newmont during the 1st quarter valued at $25,000. Heritage Wealth Advisors raised 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. Finally, Crewe Advisors LLC bought a new position in shares of Newmont in the first quarter valued at $35,000. 68.85% of the stock is owned by institutional investors.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This represents 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 firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value 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 $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 quarter. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NEM shares. UBS Group upped their target price on shares of Newmont from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Bank of America lifted their price objective on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Five research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.46.

Newmont Stock Up 2.0 %

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

Newmont (NYSE:NEM) last released its earnings results 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 business 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 business posted $0.33 earnings per share. The business’s revenue for the quarter was up 64.1% on a year-over-year basis. As a group, equities analysts predict 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 given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. Newmont’s dividend payout ratio is presently -37.45%.

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.