Miracle Mile Advisors LLC Purchases Shares of 7,383 Newmont Co. (NYSE:NEM)

Miracle Mile Advisors LLC bought a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,383 shares of the basic materials company's stock, valued at approximately $275,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Newmont by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company's stock worth $1,253,457,000 after buying an additional 326,243 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Newmont by 1.4% in the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company's stock worth $337,909,000 after buying an additional 109,084 shares in the last quarter. FMR LLC boosted its holdings in shares of Newmont by 21.1% during 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 last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings 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 acquiring an additional 1,074,623 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Newmont by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company's stock worth $182,938,000 after buying an additional 9,500 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Trading Up 0.2 %

Shares of NYSE:NEM traded up $0.07 during trading on Friday, hitting $41.72. 7,282,947 shares of the company's stock were exchanged, compared to its average volume of 8,785,733. The firm has a 50-day moving average price of $40.36 and a two-hundred day moving average price of $46.83. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The firm has a market cap of $47.50 billion, a P/E ratio of -27.45, a PEG ratio of 0.31 and a beta of 0.50. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 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 company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period last year, the company earned $0.36 earnings per share. The business's revenue was up 84.7% compared to the same quarter last year. Equities analysts predict that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is presently -65.79%.

Insider Activity at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on NEM. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They issued an "underperform" rating for the company. Raymond James reduced their price target on shares of Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a research report on Monday, November 25th. Bernstein Bank lifted their price objective on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. 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 research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. upgraded Newmont from a "neutral" rating to an "overweight" rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.80.

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.