AE Wealth Management LLC Raises Stake in Newmont Co. (NYSE:NEM)

AE Wealth Management LLC grew its holdings in shares of Newmont Co. (NYSE:NEM) by 12.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 214,913 shares of the basic materials company’s stock after acquiring an additional 24,164 shares during the quarter. AE Wealth Management LLC’s holdings in Newmont were worth $8,998,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NEM. Meeder Asset Management Inc. purchased a new position in Newmont in the 2nd quarter worth $27,000. LRI Investments LLC purchased a new position in shares of Newmont in the first quarter worth about $25,000. Heritage Wealth Advisors increased its holdings in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares during the period. Crewe Advisors LLC bought a new stake in shares of Newmont in the 1st quarter valued at about $35,000. Finally, Rise Advisors LLC boosted its holdings in Newmont by 2,373.2% during the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 973 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and lifted their price target for the stock from $46.00 to $61.00 in a research note on Wednesday, July 10th. Jefferies Financial Group lifted their target price on shares of Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $48.00 to $59.00 in a report on Monday, August 19th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Thursday, August 29th. Finally, BNP Paribas raised shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $52.62.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’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 transaction 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated 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 in the company, valued at $15,420,830.19. The disclosure for this sale can be found here. Insiders have sold 56,000 shares of company stock valued at $2,744,700 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Up 1.8 %

Shares of NYSE:NEM opened at $54.47 on Friday. The firm has a market capitalization of $62.81 billion, a P/E ratio of -20.40, a P/E/G ratio of 0.37 and a beta of 0.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The stock has a 50 day moving average price of $50.10 and a 200-day moving average price of $43.47. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $54.93.

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

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.84%. Newmont’s dividend payout ratio (DPR) is currently -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.