International Assets Investment Management LLC Purchases 964,815 Shares of Newmont Co. (NYSE:NEM)

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

A number of other hedge funds have also added to or reduced their stakes in the stock. LRI Investments LLC bought a new stake in shares of Newmont during the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new position in shares of Newmont during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of Newmont in the 2nd quarter valued at approximately $27,000. Hoese & Co LLP bought a new stake in shares of Newmont during the third quarter valued at approximately $27,000. Finally, Heritage Wealth Advisors raised 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 worth $34,000 after purchasing an additional 878 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NEM opened at $48.42 on Monday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. 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 stock has a market cap of $55.56 billion, a price-to-earnings ratio of -22.84, a PEG ratio of 0.49 and a beta of 0.50. The business has a 50-day simple moving average of $53.39 and a two-hundred day simple moving average of $46.93.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period last year, the company earned $0.36 EPS. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, analysts expect that Newmont Co. will post 3.07 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. The ex-dividend date 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 -47.17%.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on NEM shares. BMO Capital Markets upped their target price 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. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and increased their price objective for the company from $46.00 to $61.00 in a research report on Wednesday, July 10th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $59.00 to $55.00 in a research note on Friday. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Raymond James upped their price objective on Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.85.

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.