Cerity Partners LLC Acquires 19,321 Shares of Newmont Co. (NYSE:NEM)

Cerity Partners LLC grew its holdings in shares of Newmont Co. (NYSE:NEM) by 49.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 58,535 shares of the basic materials company’s stock after purchasing an additional 19,321 shares during the quarter. Cerity Partners LLC’s holdings in Newmont were worth $3,129,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Avior Wealth Management LLC boosted its stake in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares in the last quarter. Hoese & Co LLP bought a new position in shares of Newmont during the 3rd quarter worth about $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Newmont in the 3rd quarter valued at about $28,000. Highline Wealth Partners LLC bought a new stake in Newmont in the 3rd quarter valued at about $32,000. Finally, Meeder Asset Management Inc. acquired a new position in Newmont during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bernstein Bank raised their price objective on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Royal Bank of Canada reduced their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Finally, Raymond James lowered their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

Newmont Trading Down 0.2 %

NYSE NEM opened at $41.94 on Friday. The business’s fifty day moving average is $49.09 and its 200-day moving average is $47.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market capitalization of $47.75 billion, a price-to-earnings ratio of -27.59, a PEG ratio of 0.36 and a beta of 0.51. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

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 the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the firm posted $0.36 EPS. The business’s revenue was up 84.7% on a year-over-year basis. Equities research analysts predict that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders 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 yield of 2.38%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is -65.79%.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock worth $2,444,440 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

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.