Newmont Co. (NYSE:NEM) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 117.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,686 shares of the basic materials company's stock after acquiring an additional 18,722 shares during the quarter. Sanctuary Advisors LLC's holdings in Newmont were worth $1,854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Avior Wealth Management LLC increased its holdings in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock worth $27,000 after purchasing an additional 326 shares during the period. Hoese & Co LLP bought a new position in shares of Newmont during the 3rd quarter worth $27,000. Prospera Private Wealth LLC purchased a new position in shares of Newmont during the third quarter valued at $28,000. Highline Wealth Partners LLC bought a new stake in shares of Newmont in the third quarter valued at about $32,000. Finally, Meeder Asset Management Inc. purchased a new stake in Newmont in the second quarter worth about $27,000. Institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NEM. Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Bernstein Bank lifted their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Raymond James lowered their target price on Newmont from $62.00 to $59.00 and set an "outperform" rating for the company in a report on Monday, November 25th. 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 report on Wednesday, October 30th. Finally, Scotiabank cut Newmont from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.31.

Insider Buying and Selling

In related news, Director Harry M. Iv Conger bought 9,498 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The purchase 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 Newmont stock in a transaction that occurred 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 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Performance

Newmont stock traded up $1.26 during mid-day trading on Friday, reaching $38.28. 23,740,318 shares of the company traded hands, compared to its average volume of 10,558,876. The firm's fifty day moving average is $45.35 and its two-hundred day moving average is $47.23. The company has a market capitalization of $43.58 billion, a price-to-earnings ratio of -25.18, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. 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 (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont's revenue was up 84.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. On average, equities research analysts expect that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given 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 2.61%. Newmont's dividend payout ratio is currently -65.79%.

Newmont 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.