Kingsview Wealth Management LLC Buys Shares of 17,053 Newmont Co. (NYSE:NEM)

Kingsview Wealth Management LLC purchased a new position in shares of Newmont Co. (NYSE:NEM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,053 shares of the basic materials company’s stock, valued at approximately $911,000.

Other large investors have also modified their holdings of the company. Lazard Asset Management LLC raised its holdings in shares of Newmont by 95.7% during the first quarter. Lazard Asset Management LLC now owns 46,788 shares of the basic materials company’s stock valued at $1,676,000 after buying an additional 22,880 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in Newmont by 10.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 57,251 shares of the basic materials company’s stock valued at $2,052,000 after acquiring an additional 5,563 shares in the last quarter. Janus Henderson Group PLC boosted its position in Newmont by 19.1% during the 1st quarter. Janus Henderson Group PLC now owns 341,907 shares of the basic materials company’s stock worth $12,256,000 after acquiring an additional 54,761 shares during the period. California State Teachers Retirement System grew its stake in shares of Newmont by 4.3% in the first quarter. California State Teachers Retirement System now owns 1,870,040 shares of the basic materials company’s stock worth $67,022,000 after purchasing an additional 76,945 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Newmont by 6.1% during the first quarter. Tidal Investments LLC now owns 135,964 shares of the basic materials company’s stock valued at $4,851,000 after purchasing an additional 7,876 shares during the period. 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 the business’s 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 completion of the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. The trade was a 3.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 in the company, valued at $15,293,378.43. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,000 shares of company stock valued at $2,444,440. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research analyst reports. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Raymond James decreased their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Argus upgraded 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. Finally, Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Trading Down 0.5 %

NYSE:NEM opened at $42.25 on Wednesday. The stock has a fifty day simple moving average of $49.80 and a 200 day simple moving average of $47.50. 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 firm has a market capitalization of $48.09 billion, a price-to-earnings ratio of -27.79, a price-to-earnings-growth ratio of 0.38 and a beta of 0.51. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. Sell-side analysts forecast that Newmont Co. will post 3.09 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

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.