Frank Rimerman Advisors LLC Buys 311 Shares of Newmont Co. (NYSE:NEM)

Frank Rimerman Advisors LLC grew its stake in shares of Newmont Co. (NYSE:NEM) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 10,716 shares of the basic materials company’s stock after acquiring an additional 311 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Newmont were worth $573,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in shares of Newmont during the 1st quarter worth $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont in the second quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont in the second quarter valued at about $27,000. Hoese & Co LLP acquired a new stake in shares of Newmont in the third quarter valued at about $27,000. Finally, Heritage Wealth Advisors increased its stake in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction 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 $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Performance

NYSE:NEM opened at $48.42 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The business has a fifty day simple moving average of $53.39 and a two-hundred day simple moving average of $46.93. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a market capitalization of $55.56 billion, a P/E ratio of -22.84, a P/E/G ratio of 0.49 and a beta of 0.50.

Newmont (NYSE:NEM) last released its 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 positive return on equity of 8.35% and a negative net margin of 13.16%. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the prior year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. On average, analysts expect that Newmont Co. will post 3.07 earnings per share for the current year.

Newmont Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -47.17%.

Analysts Set New Price Targets

NEM has been the subject of several recent research reports. Jefferies Financial Group increased their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Veritas raised Newmont to a “strong-buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday, August 29th. Finally, BMO Capital Markets raised their target price on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.85.

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.