Newmont Co. (NYSE:NEM) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in shares of Newmont Co. (NYSE:NEMGet Rating) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 255,113 shares of the basic materials company’s stock after purchasing an additional 22,948 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Newmont were worth $12,041,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cowa LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $32,000. Avion Wealth increased its holdings in shares of Newmont by 4,664.7% in the 3rd quarter. Avion Wealth now owns 810 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 793 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Newmont in the 3rd quarter valued at $34,000. Romano Brothers AND Company acquired a new position in shares of Newmont in the 4th quarter valued at $34,000. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Newmont by 222.6% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 984 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 679 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at Newmont

In related news, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $44.25, for a total value of $132,750.00. Following the completion of the transaction, the chief operating officer now owns 87,751 shares of the company’s stock, valued at approximately $3,882,981.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $48.92, for a total value of $538,120.00. Following the completion of the transaction, the chief executive officer now owns 311,039 shares of the company’s stock, valued at approximately $15,216,027.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $44.25, for a total transaction of $132,750.00. Following the completion of the transaction, the chief operating officer now directly owns 87,751 shares of the company’s stock, valued at approximately $3,882,981.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,000 shares of company stock valued at $1,973,020. 0.07% of the stock is owned by insiders.

Newmont Price Performance

Newmont stock opened at $48.15 on Wednesday. Newmont Co. has a 52 week low of $37.45 and a 52 week high of $70.56. The company has a quick ratio of 2.00, a current ratio of 2.38 and a debt-to-equity ratio of 0.31. The firm’s 50-day simple moving average is $47.63 and its 200 day simple moving average is $47.53. The firm has a market capitalization of $38.27 billion, a PE ratio of -72.95 and a beta of 0.33.

Newmont (NYSE:NEMGet Rating) last released its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.33 by $0.07. Newmont had a negative net margin of 4.55% and a positive return on equity of 6.05%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the firm earned $0.69 EPS. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. On average, equities research analysts predict that Newmont Co. will post 2.28 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a $0.40 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.32%. Newmont’s dividend payout ratio is presently -242.42%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NEM. StockNews.com began coverage on shares of Newmont in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Barclays lifted their price objective on shares of Newmont from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, April 21st. BNP Paribas upgraded shares of Newmont from a “neutral” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research report on Monday, February 13th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $59.00 to $53.00 in a research report on Tuesday, February 14th. Finally, Citigroup lowered their price objective on shares of Newmont from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, April 4th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $60.61.

About Newmont

(Get Rating)

Newmont Corp. is a gold producer, engages in the exploration and acquisition of gold properties, contains copper, silver, lead, zinc or other metals. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.

See Also

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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