GeoWealth Management LLC Buys 2,898 Shares of Newmont Co. (NYSE:NEM)

GeoWealth Management LLC increased its stake in Newmont Co. (NYSE:NEM) by 44.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,484 shares of the basic materials company’s stock after purchasing an additional 2,898 shares during the quarter. GeoWealth Management LLC’s holdings in Newmont were worth $353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. HHM Wealth Advisors LLC lifted its stake in Newmont by 66.0% in the fourth 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. Redwood Park Advisors LLC bought a new stake in shares of Newmont in the 4th quarter valued at about $37,000. Promus Capital LLC acquired a new stake in Newmont in the 4th quarter valued at about $38,000. McIlrath & Eck LLC grew its holdings in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in Newmont during the fourth quarter worth approximately $43,000. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

NEM has been the subject of several research analyst reports. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. BMO Capital Markets assumed coverage on shares of Newmont in a report on Wednesday, April 16th. They issued an “outperform” rating and a $63.00 price objective on the stock. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $60.00 in a report on Friday, April 11th. TD Securities cut their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. Finally, National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.02.

Newmont Trading Up 0.3 %

NEM opened at $55.25 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a twelve month low of $36.60 and a twelve month high of $58.72. The stock has a market capitalization of $62.28 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a 50-day simple moving average of $47.31 and a 200 day simple moving average of $45.03.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.81%. Newmont’s payout ratio is 34.13%.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares of the company’s stock, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares of the company’s stock, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,154 shares of company stock valued at $825,678. Corporate insiders own 0.05% 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.