Inspire Investing LLC Has $5.57 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Inspire Investing LLC decreased its position in Newmont Co. (NYSE:NEM) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,065 shares of the basic materials company’s stock after selling 718 shares during the period. Newmont comprises approximately 0.6% of Inspire Investing LLC’s holdings, making the stock its 22nd largest holding. Inspire Investing LLC’s holdings in Newmont were worth $5,571,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in Newmont in the second quarter valued at about $27,000. LRI Investments LLC bought a new stake in shares of Newmont in the 1st quarter valued at approximately $25,000. Heritage Wealth Advisors raised its holdings in shares of Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Newmont during the 1st quarter worth approximately $35,000. Finally, Rise Advisors LLC boosted its stake in Newmont by 2,373.2% in the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock valued at $36,000 after buying an additional 973 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were 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 owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. The disclosure for this sale can be found here. Insiders have sold a total of 56,000 shares of company stock valued at $2,744,700 in the last 90 days. 0.06% of the stock is owned by company insiders.

Newmont Trading Down 0.1 %

Shares of NEM opened at $53.06 on Thursday. The stock’s fifty day simple moving average is $49.84 and its 200-day simple moving average is $43.25. The firm has a market capitalization of $61.19 billion, a PE ratio of -19.87, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $54.93. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the prior year, the company posted $0.33 EPS. The company’s revenue was up 64.1% compared to the same quarter last year. As a group, research analysts predict that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, September 5th. Newmont’s payout ratio is -37.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. BNP Paribas raised Newmont to a “strong-buy” rating in a report on Friday, June 21st. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $48.00 to $59.00 in a report on Monday, August 19th. BMO Capital Markets upped their price objective on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and lifted their target price for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. Finally, Bank of America increased their price target on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.62.

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.