Newmont Co. (NYSE:NEM) Shares Purchased by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC raised its stake in shares of Newmont Co. (NYSE:NEM) by 521.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,376 shares of the basic materials company’s stock after buying an additional 16,260 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Newmont were worth $1,036,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in shares of Newmont during the 1st quarter worth $25,000. Strategic Financial Concepts LLC purchased a new position in shares of Newmont during the 2nd quarter worth $25,000. Meeder Asset Management Inc. purchased a new position in shares of Newmont during the 2nd quarter worth $27,000. Heritage Wealth Advisors lifted its stake in shares of Newmont by 1,310.4% during the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 878 shares during the period. Finally, Crewe Advisors LLC purchased a new position in shares of Newmont during the 1st quarter worth $35,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NEM. BNP Paribas raised Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Jefferies Financial Group increased their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, 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. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.31.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares in the company, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of Newmont 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 transaction, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont 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 completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. 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.

Newmont Stock Up 0.3 %

Shares of NYSE NEM opened at $53.34 on Friday. The stock has a fifty day moving average price of $51.51 and a 200 day moving average price of $44.96. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The company has a market cap of $61.51 billion, a P/E ratio of -19.98, a P/E/G ratio of 0.47 and a beta of 0.50. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $56.30.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company’s revenue was up 64.1% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. Research analysts anticipate that Newmont Co. will post 2.88 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. Newmont’s dividend payout ratio is presently -37.45%.

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.