ACT Wealth Management LLC Purchases New Shares in Newmont Co. (NYSE:NEM)

ACT Wealth Management LLC purchased a new position in shares of Newmont Co. (NYSE:NEM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,805 shares of the basic materials company’s stock, valued at approximately $203,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Newmont by 43.8% during the 4th quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock valued at $4,915,059,000 after purchasing an additional 36,170,995 shares in the last quarter. Maj Invest Holding A S boosted its stake in Newmont by 296.0% during the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock valued at $143,502,000 after acquiring an additional 2,561,823 shares during the last quarter. Capital International Investors acquired a new position in Newmont during the 1st quarter worth $49,444,000. Van ECK Associates Corp increased its position in shares of Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after purchasing an additional 1,289,084 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Newmont by 47.7% in the 2nd quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock valued at $140,460,000 after purchasing an additional 1,088,742 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NEM. Jefferies Financial Group lifted their price target on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and raised their price objective for the stock from $46.00 to $61.00 in a research note on Wednesday, July 10th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $48.00 to $59.00 in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.31.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,000 shares of company stock valued at $3,434,640 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $52.73 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $56.30. The business has a 50 day simple moving average of $51.73 and a 200 day simple moving average of $45.29. The firm has a market capitalization of $60.81 billion, a price-to-earnings ratio of -19.75, a price-to-earnings-growth ratio of 0.47 and a beta of 0.50.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. On average, equities research analysts anticipate that Newmont Co. will post 2.88 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. Newmont’s dividend payout ratio is presently -37.45%.

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.