Hennion & Walsh Asset Management Inc. Increases Stock Position in Newmont Co. (NYSE:NEM)

Hennion & Walsh Asset Management Inc. grew its holdings in Newmont Co. (NYSE:NEM) by 121.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,175 shares of the basic materials company’s stock after purchasing an additional 8,315 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Newmont were worth $565,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Heathbridge Capital Management Ltd. grew its position in Newmont by 2.0% in the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 200 shares during the period. E. Ohman J or Asset Management AB boosted its stake in shares of Newmont by 0.4% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after buying an additional 200 shares during the last quarter. Fulton Bank N.A. grew its holdings in shares of Newmont by 1.5% in the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after acquiring an additional 221 shares during the period. Carmel Capital Partners LLC increased its position in Newmont by 4.5% during the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 226 shares during the last quarter. Finally, Good Life Advisors LLC lifted its holdings in Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after acquiring an additional 229 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,077 shares of company stock worth $563,080. Company insiders own 0.06% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $41.72 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market cap of $47.50 billion, a price-to-earnings ratio of -27.45, a price-to-earnings-growth ratio of 0.31 and a beta of 0.50. The firm has a 50-day moving average of $40.29 and a two-hundred day moving average of $46.89. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. On average, research analysts forecast that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Analysts Set New Price Targets

Several research firms have recently commented on NEM. Bernstein Bank upped their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and reduced their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Royal Bank of Canada lowered their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Finally, CLSA began coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $53.80.

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.