Claro Advisors LLC Invests $211,000 in Newmont Co. (NYSE:NEM)

Claro Advisors LLC purchased a new stake in Newmont Co. (NYSE:NEM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,951 shares of the basic materials company’s stock, valued at approximately $211,000.

Several other hedge funds have also added to or reduced their stakes in NEM. LRI Investments LLC bought a new position in shares of Newmont in the first quarter valued at about $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. acquired a new stake in Newmont during the second quarter worth approximately $27,000. Hoese & Co LLP bought a new position in shares of Newmont during the third quarter worth approximately $27,000. Finally, Highline Wealth Partners LLC acquired a new position in Newmont in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock worth $2,444,440 in the last quarter. 0.06% of the stock is owned by insiders.

Newmont Trading Up 1.9 %

Shares of Newmont stock opened at $43.16 on Wednesday. The firm has a market capitalization of $49.14 billion, a PE ratio of -28.39, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $50.78 and its 200 day moving average is $47.47. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’s revenue was up 84.7% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Equities research analysts forecast that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.32%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NEM. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Thursday, August 29th. Royal Bank of Canada decreased their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Raymond James raised their target price on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.14.

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.