Ballentine Partners LLC Purchases 1,754 Shares of Newmont Co. (NYSE:NEM)

Ballentine Partners LLC raised its position in shares of Newmont Co. (NYSE:NEM) by 12.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,784 shares of the basic materials company’s stock after purchasing an additional 1,754 shares during the period. Ballentine Partners LLC’s holdings in Newmont were worth $844,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of NEM. Wealth Enhancement Advisory Services LLC raised its position in Newmont by 13.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 139,631 shares of the basic materials company’s stock valued at $5,004,000 after purchasing an additional 16,902 shares in the last quarter. 180 Wealth Advisors LLC purchased a new position in shares of Newmont in the 1st quarter valued at $207,000. Hexagon Capital Partners LLC increased its holdings in shares of Newmont by 460.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 6,928 shares of the basic materials company’s stock valued at $248,000 after acquiring an additional 5,691 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in shares of Newmont by 12.2% in the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 39,668 shares of the basic materials company’s stock valued at $1,422,000 after acquiring an additional 4,313 shares during the period. Finally, IVC Wealth Advisors LLC increased its holdings in shares of Newmont by 14.5% in the 1st quarter. IVC Wealth Advisors LLC now owns 16,700 shares of the basic materials company’s stock valued at $599,000 after acquiring an additional 2,113 shares during the period. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred 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 directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred 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 directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This trade 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 worth $3,434,640. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $48.42 on Friday. The stock has a market cap of $55.56 billion, a PE ratio of -22.84, a price-to-earnings-growth ratio of 0.49 and a beta of 0.50. 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 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The business has a 50-day simple moving average of $53.39 and a 200-day simple moving average of $46.82.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. On average, equities analysts expect that Newmont Co. will post 3.07 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued 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 2.07%. Newmont’s payout ratio is -47.17%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Jefferies Financial Group boosted their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada dropped their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.85.

About Newmont

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.