Kingsview Wealth Management LLC Acquires Shares of 17,053 Newmont Co. (NYSE:NEM)

Kingsview Wealth Management LLC acquired a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,053 shares of the basic materials company's stock, valued at approximately $911,000.

Other large investors also recently made changes to their positions in the company. Cerity Partners LLC grew its stake in shares of Newmont by 49.3% in the 3rd quarter. Cerity Partners LLC now owns 58,535 shares of the basic materials company's stock valued at $3,129,000 after purchasing an additional 19,321 shares during the period. Waddell & Associates LLC lifted its stake in Newmont by 16.6% in the third quarter. Waddell & Associates LLC now owns 7,773 shares of the basic materials company's stock valued at $415,000 after buying an additional 1,104 shares during the period. Nwam LLC acquired a new position in Newmont in the third quarter valued at about $440,000. Meridian Wealth Management LLC bought a new position in Newmont during the 3rd quarter worth about $678,000. Finally, Studio Investment Management LLC increased its stake in Newmont by 29.4% in the 3rd quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company's stock valued at $61,000 after buying an additional 261 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NEM. Jefferies Financial Group increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Raymond James reduced their target price on shares of Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday. CIBC lowered Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. Royal Bank of Canada cut their price target on Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a report on Thursday, October 24th. Finally, Veritas raised shares of Newmont to a "strong-buy" rating in a report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and an average price target of $54.31.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred 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 owns 271,469 shares in the company, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 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 value of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $2,444,440 over the last ninety days. Corporate insiders own 0.06% of the company's stock.

Newmont Trading Up 0.1 %

NYSE NEM traded up $0.04 on Wednesday, reaching $42.04. The stock had a trading volume of 6,896,574 shares, compared to its average volume of 10,520,733. The stock has a fifty day moving average price of $49.57 and a two-hundred day moving average price of $47.47. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The firm has a market capitalization of $47.86 billion, a price-to-earnings ratio of -27.66, a P/E/G ratio of 0.37 and a beta of 0.51. 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 issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm had revenue of $4.61 billion for the quarter, compared to analysts' expectations of $4.67 billion. During the same period in the previous year, the business posted $0.36 EPS. The business's revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

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

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.