Pathstone Holdings LLC Increases Stake in Newmont Co. (NYSE:NEM)

Pathstone Holdings LLC lifted its stake in Newmont Co. (NYSE:NEM) by 9.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 131,332 shares of the basic materials company’s stock after buying an additional 10,967 shares during the quarter. Pathstone Holdings LLC’s holdings in Newmont were worth $7,020,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Waverton Investment Management Ltd grew its stake in Newmont by 14.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after acquiring an additional 65,075 shares in the last quarter. Red Cedar Investment Management LLC purchased a new position in shares of Newmont in the third quarter worth about $1,263,000. Bessemer Group Inc. lifted its position in Newmont by 7.5% during the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 529 shares during the period. Herr Investment Group LLC acquired a new stake in Newmont during the second quarter worth about $419,000. Finally, Truist Financial Corp increased its holdings in shares of Newmont by 8.1% during the 2nd quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock valued at $6,295,000 after purchasing an additional 11,276 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 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 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 approximately $4,928,780.76. The trade was a 3.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following 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 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $2,444,440 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research reports. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Thursday, August 29th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Jefferies Financial Group boosted their price objective on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.85.

Newmont Stock Performance

NYSE:NEM opened at $43.24 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm’s fifty day simple moving average is $50.43 and its 200-day simple moving average is $47.41. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The stock has a market cap of $49.23 billion, a PE ratio of -28.45, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51.

Newmont (NYSE:NEM) last released its quarterly earnings data 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 firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. Analysts expect that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.31%. Newmont’s dividend payout ratio (DPR) is -65.79%.

Newmont 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.