Sequoia Financial Advisors LLC Raises Stock Holdings in Newmont Co. (NYSE:NEM)

Sequoia Financial Advisors LLC grew its stake in shares of Newmont Co. (NYSE:NEM) by 35.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,382 shares of the basic materials company’s stock after buying an additional 3,498 shares during the period. Sequoia Financial Advisors LLC’s holdings in Newmont were worth $715,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hoese & Co LLP purchased a new position in Newmont during the third quarter valued at approximately $27,000. Meeder Asset Management Inc. purchased a new position in shares of Newmont during the 2nd quarter valued at $27,000. LRI Investments LLC bought a new position in Newmont in the 1st quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in Newmont in the 3rd quarter worth $48,000. Finally, Heritage Wealth Advisors raised its holdings in Newmont by 1,310.4% during 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. 68.85% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 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 value of $1,076,200.00. Following the sale, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value 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 $4,928,780.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the sale, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $59.00 to $55.00 in a research report on Friday. UBS Group upped their target price on shares of Newmont from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and lifted their price target for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.85.

Newmont Trading Down 1.7 %

Shares of NYSE NEM opened at $48.42 on Friday. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The business’s 50 day moving average is $53.39 and its two-hundred day moving average is $46.82. The stock has a market capitalization of $55.56 billion, a P/E ratio of -22.84, a PEG ratio of 0.49 and a beta of 0.50.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion for 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 business’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. As a group, research analysts expect that Newmont Co. will post 3.07 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. Newmont’s dividend payout ratio (DPR) is presently -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.