6,650 Shares in Newmont Corporation $NEM Bought by Caerus Investment Advisors LLC

Caerus Investment Advisors LLC bought a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,650 shares of the basic materials company’s stock, valued at approximately $561,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Estate Counselors LLC acquired a new position in shares of Newmont during the 3rd quarter worth approximately $4,182,000. AustralianSuper Pty Ltd boosted its holdings in shares of Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after buying an additional 183,360 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its stake in shares of Newmont by 286.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after buying an additional 44,846 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after buying an additional 2,723,044 shares in the last quarter. Finally, Live Oak Investment Partners acquired a new position in Newmont during the third quarter worth $2,232,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Up 0.7%

NEM opened at $110.97 on Wednesday. The stock’s fifty day simple moving average is $118.89 and its 200 day simple moving average is $99.20. Newmont Corporation has a 1-year low of $42.93 and a 1-year high of $134.88. The stock has a market cap of $120.72 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 0.85 and a beta of 0.39. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.18 billion. During the same period in the previous year, the business posted $1.40 earnings per share. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.25. Newmont’s payout ratio is presently 16.28%.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent analyst reports. Raymond James Financial increased their price target on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. UBS Group lowered their price objective on shares of Newmont from $160.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. National Bank Financial upped their target price on shares of Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Argus raised their target price on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Finally, Jefferies Financial Group lifted their price target on Newmont from $158.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Buy” and an average target price of $134.15.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.