Empower Advisory Group LLC Buys 22,773 Shares of Newmont Co. (NYSE:NEM)

Empower Advisory Group LLC boosted its holdings in Newmont Co. (NYSE:NEM - Free Report) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,786,315 shares of the basic materials company's stock after acquiring an additional 22,773 shares during the quarter. Empower Advisory Group LLC owned about 0.16% of Newmont worth $95,479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Waverton Investment Management Ltd grew its stake in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company's stock valued at $28,379,000 after acquiring an additional 65,075 shares in the last quarter. Red Cedar Investment Management LLC acquired a new stake in shares of Newmont during the 3rd quarter valued at about $1,263,000. Bessemer Group Inc. lifted its holdings in shares of Newmont by 7.5% during the 1st quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company's stock valued at $271,000 after buying an additional 529 shares during the last quarter. Herr Investment Group LLC acquired a new stake in shares of Newmont during the 2nd quarter valued at about $419,000. Finally, Truist Financial Corp lifted its holdings in shares of Newmont by 8.1% during the 2nd quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company's stock valued at $6,295,000 after buying an additional 11,276 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Down 0.7 %

Shares of Newmont stock traded down $0.31 during trading hours on Wednesday, hitting $41.27. The company's stock had a trading volume of 7,910,451 shares, compared to its average volume of 10,479,808. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The stock has a 50 day moving average of $51.73 and a 200 day moving average of $47.45. 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 (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. Newmont's revenue was up 84.7% on a year-over-year basis. Analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's payout ratio is currently -65.79%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a report on Monday. Cibc World Mkts lowered Newmont from a "strong-buy" rating to a "hold" rating in a report on Monday, October 28th. CIBC lowered Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. Veritas upgraded Newmont to a "strong-buy" rating in a research report on Monday, September 30th. Finally, Jefferies Financial Group boosted their price objective on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.14.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont 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 sale, the chief executive officer now owns 291,469 shares of the company's stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,000 shares of company stock valued at $2,444,440. Company insiders own 0.06% of the company's stock.

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.