Oppenheimer & Co. Inc. Grows Stock Position in Newmont Co. (NYSE:NEM)

Oppenheimer & Co. Inc. lifted its stake in Newmont Co. (NYSE:NEM - Free Report) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,849 shares of the basic materials company's stock after purchasing an additional 17,854 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Newmont were worth $13,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in Newmont in the 1st quarter worth about $25,000. Strategic Financial Concepts LLC bought a new stake in Newmont in the 2nd quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in Newmont in the 2nd quarter worth about $27,000. Hoese & Co LLP bought a new stake in Newmont in the 3rd quarter worth about $27,000. Finally, Highline Wealth Partners LLC bought a new stake in Newmont in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company'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 transaction of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares of the company's stock, valued at $4,963,452.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Peter Toth sold 3,000 shares of the company'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 transaction of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares of the company's stock, valued at $4,963,452.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company'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 value of $1,076,200.00. Following the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock valued at $2,444,440 in the last ninety days. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

NEM has been the subject of several research analyst reports. Raymond James lifted their price objective on Newmont from $65.00 to $66.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Bernstein Bank boosted their price target on Newmont from $55.00 to $58.00 in a research note on Monday. UBS Group downgraded Newmont from a "buy" rating to a "neutral" rating and cut their price target for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their price target on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Finally, BMO Capital Markets boosted their price target on Newmont from $56.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and an average target price of $54.14.

Newmont Stock Down 0.8 %

NYSE NEM traded down $0.35 during trading hours on Wednesday, reaching $41.23. The company's stock had a trading volume of 15,153,387 shares, compared to its average volume of 10,516,973. The firm's 50-day moving average price is $51.73 and its 200-day moving average price is $47.45. 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 1 year low of $29.42 and a 1 year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted 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 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 analysts' expectations of $4.67 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. The firm's revenue for the quarter was up 84.7% on a year-over-year basis. As a group, analysts predict that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.43%. Newmont's dividend payout ratio is presently -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.