Orion Portfolio Solutions LLC Buys 5,489 Shares of Newmont Co. (NYSE:NEM)

Orion Portfolio Solutions LLC increased its stake in Newmont Co. (NYSE:NEM) by 58.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,851 shares of the basic materials company’s stock after purchasing an additional 5,489 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Newmont were worth $794,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Avior Wealth Management LLC grew its holdings in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares in the last quarter. Hoese & Co LLP bought a new position in shares of Newmont in the third quarter valued at approximately $27,000. Prospera Private Wealth LLC purchased a new position in Newmont during the third quarter valued at approximately $28,000. Highline Wealth Partners LLC bought a new stake in Newmont during the 3rd quarter worth approximately $32,000. Finally, Meeder Asset Management Inc. purchased a new stake in Newmont in the 2nd quarter worth approximately $27,000. 68.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction 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 sale, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.06% of the company’s stock.

Newmont Trading Down 0.3 %

NYSE NEM opened at $40.09 on Tuesday. The firm has a market cap of $45.63 billion, a PE ratio of -26.37, a price-to-earnings-growth ratio of 0.36 and a beta of 0.49. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The stock has a 50-day moving average of $46.24 and a 200-day moving average of $47.38. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

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

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analyst Upgrades and Downgrades

NEM has been the topic of several research analyst reports. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Veritas raised Newmont to a “strong-buy” rating in a report on Monday, September 30th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Thursday, August 29th. Finally, Royal Bank of Canada cut their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.31.

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.