Cheviot Value Management LLC Has $17.66 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Cheviot Value Management LLC trimmed its position in Newmont Co. (NYSE:NEM) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 330,428 shares of the basic materials company’s stock after selling 4,749 shares during the period. Newmont makes up approximately 3.3% of Cheviot Value Management LLC’s holdings, making the stock its 8th biggest holding. Cheviot Value Management LLC’s holdings in Newmont were worth $17,661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new position in shares of Newmont during the second quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in Newmont in the 2nd quarter worth approximately $27,000. Hoese & Co LLP purchased a new stake in Newmont during the 3rd quarter worth approximately $27,000. Avior Wealth Management LLC increased its stake in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in shares of Newmont in the third quarter worth $28,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Bernstein Bank boosted their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, CLSA started coverage on shares of Newmont in a research report on Friday. They set an “underperform” rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.31.

Newmont Trading Down 1.2 %

Shares of Newmont stock opened at $41.43 on Monday. The firm has a 50-day simple moving average of $49.09 and a two-hundred day simple moving average of $47.49. 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 fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a market cap of $47.17 billion, a P/E ratio of -27.59, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51.

Newmont (NYSE:NEM) last issued its quarterly earnings results 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 business had revenue of $4.61 billion for 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%. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 EPS. As a group, equities analysts predict that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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 paid a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. Newmont’s dividend payout ratio is currently -65.79%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the 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 of the company’s stock, valued at $4,963,452.12. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 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 $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. Company 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.