Moody Lynn & Lieberson LLC Raises Holdings in Newmont Co. (NYSE:NEM)

Moody Lynn & Lieberson LLC lifted its stake in shares of Newmont Co. (NYSE:NEM) by 87.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 78,603 shares of the basic materials company’s stock after purchasing an additional 36,753 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Newmont were worth $4,201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. Wealth Enhancement Advisory Services LLC raised its stake in shares of Newmont by 13.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 139,631 shares of the basic materials company’s stock valued at $5,004,000 after purchasing an additional 16,902 shares during the period. 180 Wealth Advisors LLC bought a new stake in shares of Newmont during the 1st quarter valued at $207,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Newmont during the 1st quarter valued at $234,000. AMF Tjanstepension AB raised its stake in shares of Newmont by 7.9% during the 1st quarter. AMF Tjanstepension AB now owns 473,322 shares of the basic materials company’s stock valued at $16,982,000 after purchasing an additional 34,634 shares during the period. Finally, Citizens Business Bank bought a new stake in shares of Newmont during the 1st quarter valued at $596,000. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NEM. Royal Bank of Canada decreased their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday. Veritas upgraded Newmont to a “strong-buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. BMO Capital Markets upped their target price on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Thursday, August 29th. 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.15.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm’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 transaction, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the sale, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,000 shares of company stock worth $3,434,640 in the last ninety days. 0.06% of the stock is owned by insiders.

Newmont Price Performance

Shares of Newmont stock opened at $49.25 on Friday. The firm has a market capitalization of $56.51 billion, a PE ratio of -23.23, a price-to-earnings-growth ratio of 0.49 and a beta of 0.50. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The business’s 50-day moving average price is $53.43 and its 200-day moving average price is $46.74. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the previous year, the business earned $0.36 earnings per share. Newmont’s revenue was up 84.7% compared to the same quarter last year. Sell-side analysts forecast that Newmont Co. will post 3.07 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.03%. Newmont’s payout ratio is -47.17%.

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.