Commonwealth Equity Services LLC Boosts Stake in Newmont Co. (NYSE:NEM)

Commonwealth Equity Services LLC boosted its stake in shares of Newmont Co. (NYSE:NEM) by 33.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 399,644 shares of the basic materials company’s stock after buying an additional 101,275 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Newmont were worth $14,875,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Atria Investments Inc grew its stake in shares of Newmont by 33.8% during the 3rd quarter. Atria Investments Inc now owns 8,352 shares of the basic materials company’s stock valued at $446,000 after acquiring an additional 2,108 shares during the period. OneDigital Investment Advisors LLC boosted its position in shares of Newmont by 58.8% in the third quarter. OneDigital Investment Advisors LLC now owns 10,492 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 3,887 shares during the period. Natixis Advisors LLC raised its position in shares of Newmont by 35.7% during the 3rd quarter. Natixis Advisors LLC now owns 163,940 shares of the basic materials company’s stock valued at $8,763,000 after purchasing an additional 43,153 shares during the period. Claro Advisors LLC purchased a new position in shares of Newmont during the 3rd quarter valued at $211,000. Finally, Thrivent Financial for Lutherans boosted its holdings in Newmont by 10.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 89,287 shares of the basic materials company’s stock worth $4,775,000 after buying an additional 8,449 shares during the period. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NEM. Royal Bank of Canada boosted their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Raymond James lowered their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. TD Securities lowered their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s 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 owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Performance

NYSE:NEM opened at $47.57 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock’s fifty day moving average is $43.39 and its 200 day moving average is $45.68. The firm has a market capitalization of $53.60 billion, a PE ratio of 16.23, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a fifty-two week low of $33.29 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, sell-side analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.10%. Newmont’s payout ratio is currently 34.13%.

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.