Newmont Co. (NYSE:NEM) Shares Acquired by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co increased its stake in Newmont Co. (NYSE:NEM) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 152,227 shares of the basic materials company’s stock after acquiring an additional 5,130 shares during the period. Newmont makes up 1.4% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 28th largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Newmont were worth $8,137,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. LRI Investments LLC purchased a new stake in shares of Newmont during the first quarter valued at approximately $25,000. Strategic Financial Concepts LLC bought a new position in Newmont in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in Newmont in the 2nd quarter valued at about $27,000. Hoese & Co LLP bought a new position in Newmont in the 3rd quarter valued at about $27,000. Finally, Heritage Wealth Advisors grew its position in Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent analyst reports. BMO Capital Markets increased their target price on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $48.00 to $59.00 in a report on Monday, August 19th. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. UBS Group upped their price target on shares of Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 29th. Five 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.46.

Newmont Stock Performance

NEM stock traded down $4.66 during midday trading on Thursday, hitting $53.08. The stock had a trading volume of 5,379,096 shares, compared to its average volume of 10,120,821. The firm has a market capitalization of $61.21 billion, a price-to-earnings ratio of -20.22, a P/E/G ratio of 0.43 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 stock has a 50-day simple moving average of $53.43 and a 200 day simple moving average of $46.74. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm 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%. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. As a group, equities research analysts anticipate that Newmont Co. will post 3.1 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value 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 approximately $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. 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 have sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is owned by insiders.

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.