Waverton Investment Management Ltd Purchases 65,075 Shares of Newmont Co. (NYSE:NEM)

Waverton Investment Management Ltd increased its holdings in Newmont Co. (NYSE:NEM - Free Report) by 14.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 531,041 shares of the basic materials company's stock after purchasing an additional 65,075 shares during the quarter. Waverton Investment Management Ltd's holdings in Newmont were worth $28,379,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NEM. LRI Investments LLC bought a new stake in shares of Newmont in the first quarter worth $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Newmont in the second quarter worth $25,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont in the second quarter worth $27,000. Hoese & Co LLP bought a new stake in Newmont during the third quarter valued at $27,000. Finally, Highline Wealth Partners LLC bought a new stake in Newmont during the third quarter valued at $32,000. Institutional investors own 68.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Argus upgraded shares of Newmont from a "hold" rating to a "buy" rating and set a $58.00 price objective on the stock in a report on Thursday, August 29th. Scotiabank lowered shares of Newmont from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $59.00 to $55.00 in a report on Friday, October 25th. Raymond James upped their target price on shares of Newmont from $65.00 to $66.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. CIBC lowered shares of Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. Finally, BMO Capital Markets upped their target price on shares of Newmont from $56.00 to $57.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.14.

Newmont Stock Performance

Shares of Newmont stock traded down $0.75 on Tuesday, reaching $41.58. 15,034,228 shares of the company traded hands, compared to its average volume of 10,491,229. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a 50 day moving average of $51.95 and a 200 day moving average of $47.46. The firm has a market capitalization of $47.34 billion, a PE ratio of -27.31, a PEG ratio of 0.37 and a beta of 0.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM - Get Free Report) last released 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 negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The firm's revenue was up 84.7% on a year-over-year basis. Equities analysts forecast that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Dividend Announcement

The firm 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. This represents a $1.00 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is presently -65.79%.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares of the company's stock, valued at approximately $14,607,746.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. Corporate 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.