Empower Advisory Group LLC Increases Holdings in Newmont Co. (NYSE:NEM)

Empower Advisory Group LLC lifted its position in Newmont Co. (NYSE:NEM) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,786,315 shares of the basic materials company’s stock after buying an additional 22,773 shares during the period. Empower Advisory Group LLC owned approximately 0.16% of Newmont worth $95,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC raised its stake in Newmont by 102.9% during the 1st quarter. Empowered Funds LLC now owns 25,453 shares of the basic materials company’s stock worth $912,000 after acquiring an additional 12,908 shares during the period. Atomi Financial Group Inc. purchased a new stake in Newmont in the 1st quarter worth $316,000. Sei Investments Co. raised its holdings in Newmont by 67.5% during the first quarter. Sei Investments Co. now owns 203,859 shares of the basic materials company’s stock valued at $7,307,000 after acquiring an additional 82,165 shares during the period. Meeder Advisory Services Inc. lifted its position in shares of Newmont by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 278 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Newmont by 12.0% in the first quarter. US Bancorp DE now owns 138,203 shares of the basic materials company’s stock worth $4,953,000 after acquiring an additional 14,857 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada decreased their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Bernstein Bank boosted their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $59.00 to $55.00 in a report on Friday, October 25th. BMO Capital Markets increased their price objective on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

Newmont Stock Performance

NYSE NEM opened at $41.58 on Wednesday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a 50 day moving average price of $51.95 and a 200 day moving average price of $47.46. 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 issued its quarterly 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). The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. Equities research analysts predict that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm 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 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio is presently -65.79%.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The stock was 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 directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. 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 have sold 46,000 shares of company stock worth $2,444,440. Insiders own 0.06% of the company’s stock.

Newmont 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.