Newmont Co. (NYSE:NEM) Position Boosted by Signaturefd LLC

Signaturefd LLC grew its holdings in shares of Newmont Co. (NYSE:NEM) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,486 shares of the basic materials company’s stock after purchasing an additional 802 shares during the period. Signaturefd LLC’s holdings in Newmont were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Sequoia Financial Advisors LLC boosted its position in shares of Newmont by 35.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,382 shares of the basic materials company’s stock valued at $715,000 after purchasing an additional 3,498 shares in the last quarter. Cetera Trust Company N.A bought a new position in shares of Newmont during the 3rd quarter valued at about $705,000. Whittier Trust Co. boosted its position in shares of Newmont by 3.0% during the 3rd quarter. Whittier Trust Co. now owns 15,040 shares of the basic materials company’s stock valued at $804,000 after purchasing an additional 435 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Newmont during the 3rd quarter valued at about $48,000. Finally, Robinson Value Management Ltd. boosted its position in shares of Newmont by 75.3% during the 3rd quarter. Robinson Value Management Ltd. now owns 108,797 shares of the basic materials company’s stock valued at $5,815,000 after purchasing an additional 46,717 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM opened at $57.75 on Thursday. The firm has a market cap of $66.59 billion, a PE ratio of -21.63, a PEG ratio of 0.43 and a beta of 0.50. The firm’s 50 day moving average price is $53.43 and its 200 day moving average price is $46.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter last year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 64.1% compared to the same quarter last year. As a group, research analysts expect that Newmont Co. will post 3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NEM shares. Bank of America raised their price objective on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. UBS Group upped their price objective on shares of Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Veritas raised shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday, August 29th. Finally, Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $53.46.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,000 shares of company stock valued at $3,434,640. Company insiders own 0.06% of the company’s stock.

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.