International Assets Investment Management LLC Has $52.38 Million Stake in Newmont Co. (NYSE:NEM)

International Assets Investment Management LLC boosted its stake in shares of Newmont Co. (NYSE:NEM) by 6,387.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 979,921 shares of the basic materials company’s stock after buying an additional 964,815 shares during the quarter. International Assets Investment Management LLC owned approximately 0.08% of Newmont worth $52,377,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NEM. LRI Investments LLC acquired a new position in shares of Newmont in the first quarter worth approximately $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Newmont in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont in the 2nd quarter valued at $27,000. Hoese & Co LLP acquired a new stake in shares of Newmont during the third quarter worth $27,000. Finally, Heritage Wealth Advisors raised its stake in Newmont by 1,310.4% during 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 last quarter. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NEM. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 29th. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and increased their price target for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. Raymond James boosted their target price on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday. Veritas upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, Jefferies Financial Group raised their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.85.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,000 shares of company stock worth $3,434,640 over the last three months. 0.06% of the stock is currently owned by insiders.

Newmont Stock Performance

NEM stock opened at $48.42 on Monday. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The firm has a market cap of $55.56 billion, a PE ratio of -22.84, a P/E/G ratio of 0.49 and a beta of 0.50. The business has a 50 day moving average of $53.39 and a 200-day moving average of $46.93. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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 business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. As a group, sell-side analysts expect that Newmont Co. will post 3.07 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is -47.17%.

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.