Napa Wealth Management Acquires Shares of 20,646 Newmont Co. (NYSE:NEM)

Napa Wealth Management bought a new position in Newmont Co. (NYSE:NEM - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,646 shares of the basic materials company's stock, valued at approximately $1,104,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. raised its position in shares of Newmont by 67.5% during the first quarter. Sei Investments Co. now owns 203,859 shares of the basic materials company's stock worth $7,307,000 after purchasing an additional 82,165 shares during the period. Blair William & Co. IL lifted its position in Newmont by 4.4% during the 1st quarter. Blair William & Co. IL now owns 31,636 shares of the basic materials company's stock worth $1,134,000 after buying an additional 1,339 shares in the last quarter. TIAA Trust National Association acquired a new position in shares of Newmont during the 1st quarter worth about $208,000. Osaic Holdings Inc. grew its holdings in shares of Newmont by 86.6% in the 1st quarter. Osaic Holdings Inc. now owns 275,145 shares of the basic materials company's stock valued at $9,864,000 after acquiring an additional 127,684 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Newmont in the first quarter valued at about $1,427,000. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares of the company's stock, valued at approximately $4,963,452.12. This represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock valued at $2,444,440 over the last three months. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on NEM. UBS Group lowered Newmont from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Royal Bank of Canada dropped their price objective 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. Bernstein Bank boosted their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Veritas raised shares of Newmont to a "strong-buy" rating in a research report on Monday, September 30th. Finally, Cibc World Mkts cut Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Nine 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.14.

Newmont Stock Up 3.5 %

NEM traded up $1.43 during midday trading on Monday, hitting $42.36. The company had a trading volume of 9,970,117 shares, compared to its average volume of 10,546,848. The company has a market capitalization of $48.22 billion, a price-to-earnings ratio of -26.93, a PEG ratio of 0.34 and a beta of 0.51. The stock's 50 day moving average price is $51.11 and its 200 day moving average price is $47.44. 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 52 week low of $29.42 and a 52 week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the company earned $0.36 EPS. The company's revenue was up 84.7% on a year-over-year basis. On average, research analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Wednesday, November 27th. Newmont's dividend payout ratio is currently -65.79%.

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.