JB Capital LLC Has $4.01 Million Stock Holdings in Newmont Co. (NYSE:NEM)

JB Capital LLC grew its position in Newmont Co. (NYSE:NEM) by 1.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 75,026 shares of the basic materials company’s stock after purchasing an additional 713 shares during the period. JB Capital LLC’s holdings in Newmont were worth $4,010,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEM. Vanguard Group Inc. grew its position in shares of Newmont by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after buying an additional 16,190,422 shares during the period. Maj Invest Holding A S boosted its position in shares of Newmont by 296.0% in the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after purchasing an additional 2,561,823 shares during the last quarter. Capital International Investors acquired a new stake in shares of Newmont during the first quarter worth $49,444,000. Van ECK Associates Corp boosted its holdings in Newmont by 2.6% during the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after buying an additional 1,289,084 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Newmont by 262.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after buying an additional 1,096,905 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NEM. Raymond James upped their price objective on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Nine 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.85.

Newmont Stock Performance

Shares of NEM traded up $0.35 during midday trading on Thursday, reaching $44.83. 3,494,739 shares of the stock were exchanged, compared to its average volume of 10,400,561. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $52.49 and its 200 day simple moving average is $47.30. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a market cap of $51.04 billion, a P/E ratio of -29.26, a PEG ratio of 0.38 and a beta of 0.51.

Newmont (NYSE:NEM) last posted its quarterly earnings data 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 business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, sell-side analysts expect that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.23%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. This trade 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 this link. In other Newmont news, EVP Peter Toth sold 3,000 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 $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. The trade was 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 link. Also, CEO Thomas Ronald Palmer sold 20,000 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 transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 in the last three months. Corporate 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.