Fluent Financial LLC Acquires New Holdings in Newmont Co. (NYSE:NEM)

Fluent Financial LLC bought a new position in shares of Newmont Co. (NYSE:NEM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,168 shares of the basic materials company’s stock, valued at approximately $1,185,000.

Several other institutional investors and hedge funds also recently modified their holdings of NEM. American International Group Inc. raised its holdings in shares of Newmont by 24.8% in the fourth quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock worth $12,116,000 after acquiring an additional 58,217 shares during the last quarter. Virtu Financial LLC purchased a new position in Newmont in the 4th quarter valued at about $3,313,000. GLOBALT Investments LLC GA acquired a new stake in shares of Newmont during the 4th quarter worth about $2,570,000. Bessemer Group Inc. grew its holdings in shares of Newmont by 7.5% during the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock worth $271,000 after buying an additional 529 shares in the last quarter. Finally, Herr Investment Group LLC acquired a new position in shares of Newmont in the second quarter valued at approximately $419,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.3 %

NYSE:NEM traded up $0.14 during mid-day trading on Friday, hitting $53.34. The company had a trading volume of 6,114,716 shares, compared to its average volume of 10,362,430. The business has a fifty day simple moving average of $51.51 and a 200-day simple moving average of $44.88. The firm has a market capitalization of $61.51 billion, a price-to-earnings ratio of -19.98, a PEG ratio of 0.47 and a beta of 0.50. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $56.30. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter last year, the company earned $0.33 earnings per share. Newmont’s revenue for the quarter was up 64.1% on a year-over-year basis. Equities analysts forecast that Newmont Co. will post 2.88 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. Newmont’s payout ratio is currently -37.45%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NEM. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. UBS Group upped their target price on Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Scotiabank upgraded 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. Finally, CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and increased their price objective for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.31.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 value of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the sale, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock worth $3,434,640 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

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.