Checchi Capital Advisers LLC Raises Stake in Newmont Co. (NYSE:NEM)

Checchi Capital Advisers LLC raised its holdings in Newmont Co. (NYSE:NEM) by 12.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,744 shares of the basic materials company’s stock after purchasing an additional 763 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Newmont were worth $282,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Manchester Capital Management LLC lifted its stake in shares of Newmont by 171.9% in the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 397 shares during the period. LRI Investments LLC purchased a new position in Newmont in the first quarter worth $25,000. Heritage Wealth Advisors lifted its holdings in Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 878 shares during the period. Crewe Advisors LLC purchased a new stake in shares of Newmont during the 1st quarter worth $35,000. Finally, Advantage Trust Co purchased a new position in shares of Newmont in the 4th quarter valued at about $41,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the sale, the chief executive officer now owns 331,469 shares in the company, valued at $13,964,788.97. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by insiders.

Newmont Stock Performance

Shares of NEM opened at $51.83 on Thursday. The company has a market capitalization of $59.77 billion, a price-to-earnings ratio of -19.41, a PEG ratio of 0.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $52.77. The company’s 50 day simple moving average is $46.80 and its 200 day simple moving average is $41.04.

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 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 business had revenue of $4.40 billion for 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 business’s revenue was up 64.1% on a year-over-year basis. On average, sell-side analysts predict that Newmont Co. will post 2.76 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be issued 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 dividend yield of 1.93%. Newmont’s payout ratio is -37.45%.

Analysts Set New Price Targets

NEM has been the topic of a number of research analyst reports. Sanford C. Bernstein decreased their price objective on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. BNP Paribas upgraded Newmont to a “strong-buy” rating in a report on Friday, June 21st. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Finally, BMO Capital Markets boosted their price objective on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.92.

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.