Commonwealth Equity Services LLC Purchases 101,275 Shares of Newmont Co. (NYSE:NEM)

Commonwealth Equity Services LLC grew its holdings in shares of Newmont Co. (NYSE:NEM) by 33.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 399,644 shares of the basic materials company’s stock after acquiring an additional 101,275 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Newmont were worth $14,875,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Avior Wealth Management LLC raised its position in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Newmont during the third quarter valued at about $28,000. McIlrath & Eck LLC increased its holdings in shares of Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares during the period. HHM Wealth Advisors LLC lifted its stake in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Finally, Promus Capital LLC bought a new position in Newmont during the 4th quarter worth approximately $38,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

Shares of NEM opened at $47.57 on Tuesday. The company has a market cap of $53.60 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 0.41 and a beta of 0.54. The business’s fifty day simple moving average is $43.39 and its two-hundred day simple moving average is $45.68. Newmont Co. has a 12 month low of $33.29 and a 12 month high of $58.72. 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 released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. Newmont’s dividend payout ratio (DPR) is 34.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. TD Securities lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada upped their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. Finally, JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Buying and Selling

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is owned by 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.