Newmont Co. (NYSE:NEM) Shares Acquired by Gordian Capital Singapore Pte Ltd

Gordian Capital Singapore Pte Ltd boosted its position in shares of Newmont Co. (NYSE:NEM) by 69.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,500 shares of the basic materials company’s stock after buying an additional 12,500 shares during the quarter. Newmont accounts for approximately 0.6% of Gordian Capital Singapore Pte Ltd’s investment portfolio, making the stock its 21st largest position. Gordian Capital Singapore Pte Ltd’s holdings in Newmont were worth $1,630,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NEM. Strategic Financial Concepts LLC bought a new position in shares of Newmont in the second quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont during the second quarter worth $27,000. Hoese & Co LLP acquired a new stake in shares of Newmont during the third quarter worth $27,000. Avior Wealth Management LLC lifted its holdings in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $28,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. CLSA began coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. Royal Bank of Canada lowered their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Raymond James reduced their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday, August 29th. Finally, Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.31.

Newmont Price Performance

Shares of NYSE:NEM opened at $41.11 on Monday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm has a fifty day moving average price of $47.72 and a 200 day moving average price of $47.41. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 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 analyst estimates of $4.67 billion. During the same period in the prior year, the company posted $0.36 EPS. The business’s revenue was up 84.7% on a year-over-year basis. On average, equities analysts expect that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is -65.79%.

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 Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

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.