Leibman Financial Services Inc. Acquires New Shares in Newmont Co. (NYSE:NEM)

Leibman Financial Services Inc. acquired a new position in Newmont Co. (NYSE:NEM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,032 shares of the basic materials company’s stock, valued at approximately $216,000.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NEM. Jefferies Financial Group boosted their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. UBS Group increased their target price on shares of Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Thursday, August 29th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $48.00 to $59.00 in a research report on Monday, August 19th. Finally, Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.31.

Newmont Trading Down 0.5 %

Shares of NEM opened at $52.74 on Wednesday. The stock has a market cap of $60.82 billion, a PE ratio of -19.75, a price-to-earnings-growth ratio of 0.47 and a beta of 0.50. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $56.30. The firm’s fifty day moving average is $51.62 and its two-hundred day moving average is $45.16. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter last year, the firm earned $0.33 earnings per share. The firm’s quarterly revenue was up 64.1% compared to the same quarter last year. Research analysts forecast that Newmont Co. will post 2.88 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 1.90%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is currently owned by company insiders.

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.