Cromwell Holdings LLC Makes New $204,000 Investment in Newmont Co. (NYSE:NEM)

Cromwell Holdings LLC purchased a new stake in Newmont Co. (NYSE:NEM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,819 shares of the basic materials company’s stock, valued at approximately $204,000.

Other institutional investors have also recently bought and sold shares of the company. Heathbridge Capital Management Ltd. raised its position in shares of Newmont by 2.0% during the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after acquiring an additional 200 shares during the last quarter. E. Ohman J or Asset Management AB grew its position in shares of Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after buying an additional 200 shares during the period. Fulton Bank N.A. raised its stake in shares of Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after buying an additional 221 shares during the last quarter. Good Life Advisors LLC lifted its holdings in Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after buying an additional 229 shares during the period. Finally, Pekin Hardy Strauss Inc. grew its holdings in Newmont by 0.4% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 64,082 shares of the basic materials company’s stock worth $2,683,000 after acquiring an additional 233 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on 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 sale, the chief executive officer now owns 311,469 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,000 shares of company stock valued at $3,434,640. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NEM. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Thursday, August 29th. Jefferies Financial Group raised their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Veritas raised Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Raymond James lifted their price objective on Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $54.85.

Newmont Stock Performance

Shares of NEM opened at $48.42 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 $58.72. The firm has a fifty day simple moving average of $53.42 and a 200 day simple moving average of $46.76. The stock has a market capitalization of $55.56 billion, a price-to-earnings ratio of -22.84, a PEG ratio of 0.49 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. Research analysts forecast that Newmont Co. will post 3.07 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Wednesday, November 27th. Newmont’s payout ratio is -47.17%.

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.