Lmcg Investments LLC Boosts Stock Position in Newmont Co. (NYSE:NEM)

Lmcg Investments LLC boosted its stake in shares of Newmont Co. (NYSE:NEM) by 8.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 202,512 shares of the basic materials company’s stock after buying an additional 15,049 shares during the period. Lmcg Investments LLC’s holdings in Newmont were worth $10,824,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. LRI Investments LLC acquired a new stake in shares of Newmont in the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new position in Newmont in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new position in Newmont in the 2nd quarter valued at approximately $27,000. Hoese & Co LLP purchased a new position in Newmont in the 3rd quarter valued at approximately $27,000. Finally, Highline Wealth Partners LLC purchased a new position in Newmont during the third quarter worth $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Down 0.4 %

Shares of NEM traded down $0.18 during mid-day trading on Friday, reaching $45.26. The company’s stock had a trading volume of 11,048,999 shares, compared to its average volume of 10,422,156. The company’s fifty day moving average price is $52.91 and its two-hundred day moving average price is $47.09. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market cap of $51.53 billion, a PE ratio of -29.78, a P/E/G ratio of 0.39 and a beta of 0.50.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (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 business earned $0.36 EPS. The business’s revenue was up 84.7% compared to the same quarter last year. On average, analysts predict that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given 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 2.21%. Newmont’s dividend payout ratio (DPR) is -65.79%.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s 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 $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The shares were 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 owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $2,444,440 over the last three months. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NEM has been the topic of several analyst reports. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. Raymond James lifted their target price on Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $53.85.

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.