Mesirow Financial Investment Management Inc. Purchases 394 Shares of Newmont Co. (NYSE:NEM)

Mesirow Financial Investment Management Inc. boosted its position in shares of Newmont Co. (NYSE:NEM) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,725 shares of the basic materials company’s stock after purchasing an additional 394 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Newmont were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. LRI Investments LLC bought a new position in shares of Newmont in the 1st quarter worth $25,000. Strategic Financial Concepts LLC bought a new position in Newmont during the second quarter worth about $25,000. Meeder Asset Management Inc. bought a new position in Newmont during the second quarter worth about $27,000. Hoese & Co LLP acquired a new position in shares of Newmont during the 3rd quarter worth about $27,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Newmont in the 3rd quarter valued at about $32,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEM has been the subject of a number of analyst reports. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, August 29th. Jefferies Financial Group upped their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, Bernstein Bank boosted their price objective on Newmont from $55.00 to $58.00 in a research report on Monday. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.14.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont 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 in the company, valued at $15,293,378.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of Newmont 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 of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock valued at $2,444,440 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NEM stock opened at $42.34 on Tuesday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $52.17 and a 200 day simple moving average of $47.46. The company has a market cap of $48.20 billion, a P/E ratio of -28.00, a P/E/G ratio of 0.37 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 84.7% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. On average, sell-side analysts forecast that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.36%. Newmont’s dividend payout ratio is currently -65.79%.

About Newmont

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.