Newmont Co. (NYSE:NEM) Shares Bought by Atria Investments Inc

Atria Investments Inc grew its stake in shares of Newmont Co. (NYSE:NEM) by 33.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,352 shares of the basic materials company’s stock after purchasing an additional 2,108 shares during the quarter. Atria Investments Inc’s holdings in Newmont were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. LRI Investments LLC acquired a new stake in Newmont during the first quarter worth approximately $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Newmont in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. acquired a new position in shares of Newmont in the 2nd quarter valued at $27,000. Hoese & Co LLP acquired a new position in shares of Newmont in the 3rd quarter valued at $27,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock worth $2,444,440 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NEM. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Jefferies Financial Group lifted their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada lowered their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus price target of $54.14.

Newmont Price Performance

Shares of NYSE NEM opened at $42.99 on Thursday. The firm has a market capitalization of $48.94 billion, a P/E ratio of -28.28, a PEG ratio of 0.34 and a beta of 0.51. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company’s fifty day moving average is $50.63 and its two-hundred day moving average is $47.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

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 positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Newmont’s quarterly revenue was up 84.7% on a year-over-year basis. Analysts forecast that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given 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 2.33%. Newmont’s dividend payout ratio is presently -65.79%.

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.