Landscape Capital Management L.L.C. Purchases New Position in Newmont Co. (NYSE:NEM)

Landscape Capital Management L.L.C. acquired a new position in Newmont Co. (NYSE:NEM) in the 3rd quarter, HoldingsChannel reports. The firm acquired 20,194 shares of the basic materials company’s stock, valued at approximately $1,079,000.

Other large investors have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI lifted its stake in Newmont by 905.7% in the third quarter. Citizens Financial Group Inc. RI now owns 129,023 shares of the basic materials company’s stock worth $6,896,000 after acquiring an additional 116,194 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Newmont by 3.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 29,296 shares of the basic materials company’s stock worth $1,566,000 after purchasing an additional 923 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Newmont during the 3rd quarter valued at about $28,000. Gemsstock Ltd. raised its stake in Newmont by 52.2% in the third quarter. Gemsstock Ltd. now owns 464,300 shares of the basic materials company’s stock worth $24,817,000 after buying an additional 159,200 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. This represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. Insiders own 0.06% of the company’s stock.

Newmont Trading Up 0.1 %

Shares of NYSE:NEM opened at $43.37 on Friday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The stock’s fifty day moving average price is $50.23 and its 200-day moving average price is $47.42. The company has a market cap of $49.37 billion, a P/E ratio of -28.53, a PEG ratio of 0.36 and a beta of 0.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the previous year, the business earned $0.36 EPS. The business’s revenue was up 84.7% compared to the same quarter last year. Sell-side analysts expect that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analyst Ratings Changes

A number of research firms have weighed in on NEM. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Scotiabank downgraded Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Bernstein Bank upped their target price on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.85.

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.