Moody Lynn & Lieberson LLC Purchases 36,753 Shares of Newmont Co. (NYSE:NEM)

Moody Lynn & Lieberson LLC lifted its position in shares of Newmont Co. (NYSE:NEM) by 87.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 78,603 shares of the basic materials company’s stock after acquiring an additional 36,753 shares during the period. Moody Lynn & Lieberson LLC’s holdings in Newmont were worth $4,201,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. boosted its position in shares of Newmont by 7.5% during the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 529 shares in the last quarter. Herr Investment Group LLC bought a new stake in shares of Newmont during the second quarter valued at approximately $419,000. Truist Financial Corp boosted its position in shares of Newmont by 8.1% during the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock valued at $6,295,000 after purchasing an additional 11,276 shares in the last quarter. Primoris Wealth Advisors LLC bought a new stake in shares of Newmont during the second quarter valued at approximately $607,000. Finally, Forsta AP Fonden boosted its position in shares of Newmont by 9.6% during the first quarter. Forsta AP Fonden now owns 252,100 shares of the basic materials company’s stock valued at $9,035,000 after purchasing an additional 22,100 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the 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 $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,000 shares of company stock valued at $3,434,640. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of several research reports. Royal Bank of Canada dropped their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $59.00 to $55.00 in a research note on Friday. BMO Capital Markets lifted their price objective on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Jefferies Financial Group lifted their price objective on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.15.

Newmont Stock Down 14.7 %

Newmont stock opened at $49.25 on Friday. The stock has a market cap of $56.51 billion, a PE ratio of -23.23, a price-to-earnings-growth ratio of 0.49 and a beta of 0.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The stock has a fifty day moving average of $53.43 and a 200 day moving average of $46.74.

Newmont (NYSE:NEM) last released 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). Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company had revenue of $4.61 billion for 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 for the quarter was up 84.7% on a year-over-year basis. As a group, sell-side analysts predict that Newmont Co. will post 3.07 EPS for the current year.

Newmont Dividend Announcement

The business 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.03%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is presently -47.17%.

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.