Welch & Forbes LLC Purchases 362 Shares of Newmont Co. (NYSE:NEM)

Welch & Forbes LLC increased its position in shares of Newmont Co. (NYSE:NEM) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,950 shares of the basic materials company’s stock after buying an additional 362 shares during the quarter. Welch & Forbes LLC’s holdings in Newmont were worth $259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Avior Wealth Management LLC lifted its position in Newmont by 191.8% during the 3rd 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. Prospera Private Wealth LLC acquired a new stake in shares of Newmont in the third quarter valued at about $28,000. HHM Wealth Advisors LLC raised its holdings in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Promus Capital LLC acquired a new position in Newmont during the fourth quarter valued at approximately $38,000. Finally, McIlrath & Eck LLC grew its stake in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM opened at $43.88 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a market cap of $49.44 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 0.41 and a beta of 0.54. The stock’s fifty day moving average price is $42.53 and its two-hundred day moving average price is $46.03. Newmont Co. has a one year low of $33.29 and a one year high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. On average, equities analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. Newmont’s payout ratio is 34.13%.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NEM. CLSA started coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. Royal Bank of Canada upped their price target on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. Bernstein Bank boosted their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

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.