Newmont Co. (NYSE:NEM) Stock Position Increased by Chiron Investment Management LLC

Chiron Investment Management LLC grew its stake in shares of Newmont Co. (NYSE:NEM) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 240,683 shares of the basic materials company’s stock after acquiring an additional 7,973 shares during the quarter. Newmont comprises about 4.5% of Chiron Investment Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Chiron Investment Management LLC’s holdings in Newmont were worth $12,865,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new position in shares of Newmont in the second quarter worth approximately $27,000. Hoese & Co LLP purchased a new position in shares of Newmont in the third quarter worth approximately $27,000. Avior Wealth Management LLC boosted its holdings in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in shares of Newmont in the third quarter worth approximately $28,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In other Newmont news, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction 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 $14,607,746.89. This represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Jefferies Financial Group raised their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday, August 29th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Finally, UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

Newmont Trading Down 0.6 %

Newmont stock opened at $41.50 on Wednesday. The stock has a market cap of $47.25 billion, a P/E ratio of -27.30, a PEG ratio of 0.35 and a beta of 0.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm’s 50 day moving average price is $47.48 and its 200-day moving average price is $47.41.

Newmont (NYSE:NEM) last released its quarterly earnings data 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). The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’s quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. On average, equities analysts predict that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is currently -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.