AGF Investments LLC boosted its holdings in shares of Newmont Co. (NYSE:NEM) by 19.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,160 shares of the basic materials company’s stock after buying an additional 2,287 shares during the quarter. AGF Investments LLC’s holdings in Newmont were worth $769,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. Bangor Savings Bank lifted its stake in shares of Newmont by 15.8% in the 3rd quarter. Bangor Savings Bank now owns 23,265 shares of the basic materials company’s stock valued at $1,263,000 after acquiring an additional 3,168 shares during the last quarter. Boston Partners increased its holdings in Newmont by 15.2% in the second quarter. Boston Partners now owns 2,723,292 shares of the basic materials company’s stock valued at $172,612,000 after purchasing an additional 358,368 shares during the period. Capital Investment Advisors LLC increased its holdings in Newmont by 20.9% in the third quarter. Capital Investment Advisors LLC now owns 234,888 shares of the basic materials company’s stock valued at $12,754,000 after purchasing an additional 40,526 shares during the period. Stack Financial Management Inc increased its holdings in Newmont by 0.8% in the third quarter. Stack Financial Management Inc now owns 269,818 shares of the basic materials company’s stock valued at $14,651,000 after purchasing an additional 2,257 shares during the period. Finally, Boyer & Corporon Wealth Management LLC increased its holdings in Newmont by 3.7% in the third quarter. Boyer & Corporon Wealth Management LLC now owns 93,872 shares of the basic materials company’s stock valued at $5,097,000 after purchasing an additional 3,392 shares during the period. 76.46% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the company. Barclays decreased their price target on Newmont from $61.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, December 8th. National Bankshares reduced their target price on Newmont from C$95.00 to C$92.00 and set an “outperform” rating for the company in a research note on Wednesday, November 24th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating and reduced their target price for the company from $81.00 to $69.00 in a research note on Friday, October 29th. Raymond James reduced their target price on Newmont from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, December 3rd. Finally, KeyCorp assumed coverage on shares of Newmont in a research report on Friday, September 24th. They issued a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $69.60.
Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, October 28th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.28). Newmont had a net margin of 16.67% and a return on equity of 10.94%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. On average, equities research analysts forecast that Newmont Co. will post 2.93 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 28th. Investors of record on Thursday, December 9th were paid a $0.55 dividend. The ex-dividend date was Wednesday, December 8th. This represents a $2.20 dividend on an annualized basis and a yield of 3.59%. Newmont’s dividend payout ratio is 86.96%.
In other news, EVP Stephen P. Gottesfeld sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $58.18, for a total transaction of $232,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Blake Rhodes sold 500 shares of the business’s stock in a transaction on Wednesday, November 3rd. The shares were sold at an average price of $55.00, for a total transaction of $27,500.00. The disclosure for this sale can be found here. Insiders sold a total of 27,000 shares of company stock valued at $1,517,425 over the last quarter. 0.12% of the stock is owned by company insiders.
Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.
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