Eqis Capital Management Inc. increased its stake in shares of Newmont Co. (NYSE:NEM) by 64.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,376 shares of the basic materials company’s stock after buying an additional 4,478 shares during the period. Eqis Capital Management Inc.’s holdings in Newmont were worth $722,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new stake in shares of Newmont during the 3rd quarter worth about $26,000. Rosenberg Matthew Hamilton bought a new stake in shares of Newmont during the 2nd quarter worth about $27,000. Providence Capital Advisors LLC bought a new stake in shares of Newmont during the 2nd quarter worth about $28,000. Harbor Investment Advisory LLC boosted its holdings in shares of Newmont by 1,773.2% during the 3rd quarter. Harbor Investment Advisory LLC now owns 768 shares of the basic materials company’s stock worth $49,000 after buying an additional 727 shares during the period. Finally, FAI Wealth Management bought a new stake in shares of Newmont during the 2nd quarter worth about $49,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently commented on NEM. Raymond James lifted their target price on shares of Newmont from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. ValuEngine cut shares of Newmont from a “hold” rating to a “sell” rating in a research note on Wednesday. Fundamental Research lifted their price objective on shares of Newmont from $74.64 to $75.59 and gave the stock a “buy” rating in a research note on Thursday, August 13th. UBS Group lifted their price objective on shares of Newmont from $58.00 to $71.00 and gave the stock a “neutral” rating in a research note on Monday, August 24th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $57.00 price objective on shares of Newmont in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $72.90.

In related news, CEO Thomas Ronald Palmer sold 5,150 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $68.55, for a total transaction of $353,032.50. Following the completion of the transaction, the chief executive officer now directly owns 263,147 shares in the company, valued at approximately $18,038,726.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jennifer Cmil sold 2,571 shares of the company’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $61.67, for a total transaction of $158,553.57. Following the transaction, the executive vice president now owns 16,024 shares of the company’s stock, valued at $988,200.08. The disclosure for this sale can be found here. Insiders sold a total of 41,110 shares of company stock valued at $2,643,343 over the last 90 days. Corporate insiders own 0.28% of the company’s stock.

Shares of NYSE:NEM opened at $61.65 on Friday. The firm has a 50 day moving average of $63.24 and a 200-day moving average of $63.11. The stock has a market capitalization of $49.51 billion, a PE ratio of 19.39 and a beta of 0.26. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 0.26. Newmont Co. has a 12 month low of $33.00 and a 12 month high of $72.22.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 29th. The basic materials company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Newmont had a net margin of 23.19% and a return on equity of 7.37%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. On average, research analysts predict that Newmont Co. will post 2.66 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Stockholders of record on Friday, December 11th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This is a boost from Newmont’s previous quarterly dividend of $0.25. This represents a $1.60 annualized dividend and a dividend yield of 2.60%. Newmont’s payout ratio is presently 75.76%.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold, 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, and Ghana. As of December 31, 2019, it had proven and probable gold reserves of 100.2 million ounces and land position of 68,300 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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