Silver Oak Securities Incorporated Increases Stake in Newmont Co. (NYSE:NEM)

Silver Oak Securities Incorporated boosted its stake in shares of Newmont Co. (NYSE:NEM) by 914.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,834 shares of the basic materials company’s stock after purchasing an additional 11,569 shares during the period. Silver Oak Securities Incorporated’s holdings in Newmont were worth $692,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after buying an additional 16,190,422 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after purchasing an additional 1,289,084 shares during the period. Legal & General Group Plc raised its stake in shares of Newmont by 1.4% in the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock worth $337,909,000 after purchasing an additional 109,084 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after purchasing an additional 545,903 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Newmont by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock worth $175,872,000 after buying an additional 313,736 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

NYSE:NEM opened at $48.42 on Friday. The firm has a market cap of $55.56 billion, a P/E ratio of -22.84, a price-to-earnings-growth ratio of 0.49 and a beta of 0.50. The stock has a 50 day moving average of $53.39 and a two-hundred day moving average of $46.82. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, analysts expect that Newmont Co. will post 3.07 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 paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.07%. Newmont’s dividend payout ratio is presently -47.17%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Raymond James lifted their price objective on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group boosted their price objective on Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $59.00 to $55.00 in a report on Friday. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.85.

Insider Buying and Selling at Newmont

In other 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 transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at $15,420,830.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of Newmont 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 transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were 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 of the company’s stock, valued at $15,420,830.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,000 shares of company stock worth $3,434,640. Insiders own 0.06% of the company’s stock.

Newmont Company 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.