Newmont Co. (NYSE:NEM) Holdings Increased by White Knight Strategic Wealth Advisors LLC

White Knight Strategic Wealth Advisors LLC increased its stake in Newmont Co. (NYSE:NEM) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,441 shares of the basic materials company’s stock after acquiring an additional 465 shares during the period. White Knight Strategic Wealth Advisors LLC’s holdings in Newmont were worth $344,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. LRI Investments LLC bought a new position in Newmont during the 1st quarter valued at $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont in the second quarter valued at $25,000. Meeder Asset Management Inc. acquired a new position in Newmont during the second quarter worth about $27,000. Hoese & Co LLP acquired a new position in Newmont during the third quarter worth about $27,000. Finally, Avior Wealth Management LLC raised its position 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 acquiring an additional 326 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 approximately $4,963,452.12. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. Corporate insiders own 0.06% of the company’s stock.

Newmont Trading Down 0.2 %

NYSE:NEM opened at $41.96 on Friday. The stock has a market cap of $47.77 billion, a PE ratio of -27.61, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. 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 stock’s 50-day moving average is $49.09 and its two-hundred day moving average is $47.42.

Newmont (NYSE:NEM) last announced 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 analysts’ expectations of $4.67 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, equities research analysts forecast that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. Newmont’s dividend payout ratio is -65.79%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Bernstein Bank raised their price objective on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.31.

Newmont Company Profile

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.