Gordian Capital Singapore Pte Ltd Has $1.63 Million Position in Newmont Co. (NYSE:NEM)

Gordian Capital Singapore Pte Ltd increased its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 69.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,500 shares of the basic materials company's stock after purchasing an additional 12,500 shares during the quarter. Newmont makes up approximately 0.6% of Gordian Capital Singapore Pte Ltd's portfolio, making the stock its 21st largest position. Gordian Capital Singapore Pte Ltd's holdings in Newmont were worth $1,630,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC acquired a new position in Newmont in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. bought a new stake in Newmont in the second quarter valued at about $27,000. Hoese & Co LLP acquired a new position in shares of Newmont in the 3rd quarter worth approximately $27,000. Avior Wealth Management LLC lifted its holdings in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 326 shares during the period. Finally, Prospera Private Wealth LLC acquired a new position in Newmont in the third quarter valued at about $28,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Harry M. Iv Conger acquired 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares of the company's stock, valued at $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The transaction 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 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 completion of 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Newmont Price Performance

Shares of NEM stock traded up $0.62 on Monday, reaching $41.73. The stock had a trading volume of 10,636,823 shares, compared to its average volume of 10,490,783. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The firm's 50-day moving average is $47.72 and its two-hundred day moving average is $47.41. 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 released its quarterly earnings results 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 negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter last year, the firm earned $0.36 earnings per share. The business's revenue for the quarter was up 84.7% compared to the same quarter last year. On average, equities research analysts predict that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders 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 2.40%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's dividend payout ratio is presently -65.79%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NEM shares. Veritas raised shares of Newmont to a "strong-buy" rating in a report on Monday, September 30th. Scotiabank downgraded Newmont from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the company from $59.00 to $55.00 in a research report on Friday, October 25th. Royal Bank of Canada reduced 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. Cibc World Mkts lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have given 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 stock presently has an average rating of "Moderate Buy" and an average target price of $54.31.

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.