White Knight Strategic Wealth Advisors LLC Buys 465 Shares of Newmont Co. (NYSE:NEM)

White Knight Strategic Wealth Advisors LLC raised its stake in shares of Newmont Co. (NYSE:NEM) by 7.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,441 shares of the basic materials company’s stock after purchasing an additional 465 shares during the quarter. White Knight Strategic Wealth Advisors LLC’s holdings in Newmont were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp grew its stake in shares of Newmont by 2.6% in 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 acquiring an additional 1,289,084 shares during the last quarter. Legal & General Group Plc boosted its holdings in Newmont by 1.4% during the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after purchasing an additional 109,084 shares in the last quarter. FMR LLC grew its stake in shares of Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after purchasing an additional 1,226,697 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Newmont by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after buying an additional 545,903 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Newmont by 29.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock worth $197,976,000 after buying an additional 1,074,623 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday, August 29th. CLSA initiated coverage on shares of Newmont in a research report on Friday. They set an “underperform” rating for the company. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Jefferies Financial Group lifted their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.31.

Newmont Stock Down 0.2 %

Shares of NYSE NEM opened at $41.96 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $47.77 billion, a PE ratio of -27.61, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51. The firm’s 50-day moving average is $49.09 and its 200-day moving average is $47.42. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72.

Newmont (NYSE:NEM) last announced 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). The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s revenue was up 84.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 earnings per share. Equities analysts expect that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. Newmont’s dividend payout ratio is presently -65.79%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This represents a 3.17 % 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 on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is currently owned by company insiders.

Newmont Company 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.