Sanctuary Advisors LLC Increases Stake in Newmont Co. (NYSE:NEM)

Sanctuary Advisors LLC raised its stake in Newmont Co. (NYSE:NEM) by 117.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,686 shares of the basic materials company’s stock after acquiring an additional 18,722 shares during the period. Sanctuary Advisors LLC’s holdings in Newmont were worth $1,854,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NEM. Strategic Financial Concepts LLC purchased a new stake in Newmont during the 2nd quarter valued at $25,000. Meeder Asset Management Inc. bought a new position in shares of Newmont during the second quarter valued at about $27,000. Hoese & Co LLP purchased a new stake in shares of Newmont during the third quarter worth about $27,000. Avior Wealth Management LLC grew its stake 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 purchasing an additional 326 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in Newmont during the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

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 transaction of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. This trade represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NEM shares. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $59.00 to $55.00 in a research report on Friday, October 25th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Thursday, August 29th. Finally, Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.31.

Newmont Stock Performance

Shares of NEM opened at $37.02 on Friday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a market cap of $42.15 billion, a P/E ratio of -24.36, a P/E/G ratio of 0.35 and a beta of 0.49. The business’s 50 day moving average price is $45.35 and its 200-day moving average price is $47.23.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period last year, the firm posted $0.36 earnings per share. The company’s revenue was up 84.7% compared to the same quarter last year. Equities research analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed 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. This represents a $1.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is -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.