Rakuten Securities Inc. Buys 573 Shares of Newmont Co. (NYSE:NEM)

Rakuten Securities Inc. increased its position in Newmont Co. (NYSE:NEM) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,974 shares of the basic materials company’s stock after acquiring an additional 573 shares during the quarter. Newmont comprises about 1.0% of Rakuten Securities Inc.’s investment portfolio, making the stock its 20th biggest position. Rakuten Securities Inc.’s holdings in Newmont were worth $2,244,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NEM. Empowered Funds LLC increased its holdings in Newmont by 102.9% during the 1st quarter. Empowered Funds LLC now owns 25,453 shares of the basic materials company’s stock valued at $912,000 after purchasing an additional 12,908 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in shares of Newmont in the first quarter valued at about $316,000. Sei Investments Co. boosted its position in Newmont by 67.5% during the 1st quarter. Sei Investments Co. now owns 203,859 shares of the basic materials company’s stock worth $7,307,000 after acquiring an additional 82,165 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in Newmont by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 278 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Newmont by 12.0% in the 1st quarter. US Bancorp DE now owns 138,203 shares of the basic materials company’s stock valued at $4,953,000 after acquiring an additional 14,857 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 6.0 %

Shares of NYSE NEM opened at $42.34 on Tuesday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The firm has a market capitalization of $48.20 billion, a PE ratio of -27.86, a price-to-earnings-growth ratio of 0.37 and a beta of 0.51. The firm has a fifty day simple moving average of $51.95 and a two-hundred day simple moving average of $47.46. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. Equities analysts expect that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 yield of 2.36%. Newmont’s dividend payout ratio (DPR) is -65.79%.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction 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 sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock valued at $2,444,440 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NEM shares. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Royal Bank of Canada lowered their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $59.00 to $55.00 in a research report on Friday, October 25th. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, BMO Capital Markets upped their price target on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.14.

Newmont 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.