Landscape Capital Management L.L.C. Takes Position in Newmont Co. (NYSE:NEM)

Landscape Capital Management L.L.C. purchased a new position in Newmont Co. (NYSE:NEM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,194 shares of the basic materials company’s stock, valued at approximately $1,079,000.

Several other institutional investors have also bought and sold shares of NEM. Heathbridge Capital Management Ltd. raised its stake in shares of Newmont by 2.0% in the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after buying an additional 200 shares during the period. E. Ohman J or Asset Management AB raised its stake in Newmont by 0.4% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after acquiring an additional 200 shares during the period. Fulton Bank N.A. lifted its holdings in Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after purchasing an additional 221 shares during the last quarter. Carmel Capital Partners LLC boosted its position in Newmont by 4.5% during the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after purchasing an additional 226 shares during the period. Finally, Good Life Advisors LLC increased its stake in shares of Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NEM shares. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada decreased their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, Bernstein Bank upped their price target on 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 assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.85.

Newmont Stock Up 0.1 %

Shares of NYSE:NEM opened at $43.37 on Friday. The firm has a market capitalization of $49.37 billion, a PE ratio of -28.53, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51. 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 Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The firm has a fifty day moving average of $50.23 and a 200 day moving average of $47.42.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 positive return on equity of 9.80% and a negative net margin of 7.03%. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. As a group, research analysts anticipate that Newmont Co. will post 3.12 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. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.31%. Newmont’s payout ratio is -65.79%.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 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 value of $1,076,200.00. Following the completion of the sale, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,000 shares of company stock valued at $2,444,440. Corporate insiders own 0.06% of the company’s stock.

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.