Hara Capital LLC Acquires 4,715 Shares of Newmont Co. (NYSE:NEM)

Hara Capital LLC raised its holdings in Newmont Co. (NYSE:NEM) by 20.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 27,639 shares of the basic materials company’s stock after purchasing an additional 4,715 shares during the quarter. Newmont accounts for approximately 0.9% of Hara Capital LLC’s portfolio, making the stock its 25th largest position. Hara Capital LLC’s holdings in Newmont were worth $1,477,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in Newmont during the 1st quarter worth about $182,000. Empirical Finance LLC raised its position in Newmont by 5.3% in the 1st quarter. Empirical Finance LLC now owns 29,901 shares of the basic materials company’s stock worth $1,072,000 after purchasing an additional 1,506 shares during the last quarter. AIA Group Ltd acquired a new position in Newmont during the 1st quarter worth $1,165,000. Empowered Funds LLC increased its stake in shares of Newmont by 102.9% in the 1st quarter. Empowered Funds LLC now owns 25,453 shares of the basic materials company’s stock valued at $912,000 after buying an additional 12,908 shares during the period. Finally, Retirement Planning Co of New England Inc. raised its position in shares of Newmont by 51.2% during the first quarter. Retirement Planning Co of New England Inc. now owns 13,626 shares of the basic materials company’s stock worth $488,000 after acquiring an additional 4,616 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.6 %

NEM stock traded up $0.28 during trading hours on Thursday, reaching $44.76. 4,040,500 shares of the stock were exchanged, compared to its average volume of 10,402,732. The firm’s 50-day moving average is $52.49 and its 200-day moving average is $47.30. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The company has a market cap of $50.96 billion, a price-to-earnings ratio of -29.26, a PEG ratio of 0.38 and a beta of 0.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period in the prior year, the business posted $0.36 EPS. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. On average, equities research analysts expect that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced 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 yield of 2.23%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Analysts Set New Price Targets

Several brokerages have weighed in on NEM. Raymond James boosted their price objective on Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. BMO Capital Markets boosted their target price on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada lowered their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. Nine 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.85.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,000 shares of company stock valued at $2,444,440. Corporate insiders own 0.06% of the company’s stock.

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.