Hoese & Co LLP Makes New Investment in Newmont Co. (NYSE:NEM)

Hoese & Co LLP bought a new stake in shares of Newmont Co. (NYSE:NEM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 500 shares of the basic materials company’s stock, valued at approximately $27,000.

Several other large investors have also recently made changes to their positions in the company. UMB Bank n.a. increased its holdings in Newmont by 21.1% in the third quarter. UMB Bank n.a. now owns 3,750 shares of the basic materials company’s stock valued at $200,000 after buying an additional 654 shares in the last quarter. Cadinha & Co. LLC purchased a new position in shares of Newmont in the 3rd quarter valued at about $17,916,000. Sanibel Captiva Trust Company Inc. acquired a new position in Newmont in the 3rd quarter worth about $357,000. Wedmont Private Capital boosted its position in Newmont by 28.2% during the third quarter. Wedmont Private Capital now owns 9,618 shares of the basic materials company’s stock worth $510,000 after purchasing an additional 2,118 shares in the last quarter. Finally, CWM LLC grew its holdings in Newmont by 11.2% in the third quarter. CWM LLC now owns 19,111 shares of the basic materials company’s stock valued at $1,021,000 after purchasing an additional 1,930 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Up 1.3 %

NEM stock opened at $53.40 on Friday. The firm has a market cap of $61.27 billion, a PE ratio of -25.19, a PEG ratio of 0.43 and a beta of 0.50. Newmont Co. has a one year low of $29.42 and a one year high of $56.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The firm’s 50 day moving average price is $51.80 and its 200-day moving average price is $45.35.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company’s quarterly revenue was up 64.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 EPS. On average, equities research analysts anticipate that Newmont Co. will post 3.1 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is -47.17%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NEM. BNP Paribas upgraded Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $48.00 to $59.00 in a research report on Monday, August 19th. Bank of America lifted their price objective on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, BMO Capital Markets increased their target price on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average price target of $53.31.

Insider Activity at Newmont

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

About Newmont

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.