Sheaff Brock Investment Advisors LLC Buys Shares of 4,986 Newmont Co. (NYSE:NEM)

Sheaff Brock Investment Advisors LLC purchased a new position in Newmont Co. (NYSE:NEM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,986 shares of the basic materials company’s stock, valued at approximately $267,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dearborn Partners LLC bought a new position in Newmont during the 3rd quarter valued at about $294,000. CIBC Asset Management Inc boosted its holdings in Newmont by 12.6% in the third quarter. CIBC Asset Management Inc now owns 240,386 shares of the basic materials company’s stock worth $12,849,000 after purchasing an additional 26,914 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in Newmont by 58.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 10,492 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 3,887 shares during the period. Metis Global Partners LLC lifted its holdings in shares of Newmont by 22.9% during the 3rd quarter. Metis Global Partners LLC now owns 111,873 shares of the basic materials company’s stock valued at $5,980,000 after buying an additional 20,876 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of Newmont by 82.4% during the 3rd quarter. Huntington National Bank now owns 10,176 shares of the basic materials company’s stock valued at $544,000 after buying an additional 4,598 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont 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 completion of the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 3.17 % 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. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank of Canada reduced their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. BMO Capital Markets increased their price target on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $59.00 to $55.00 in a research note on Friday, October 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.14.

Newmont Price Performance

Shares of NYSE:NEM opened at $40.91 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market cap of $46.57 billion, a price-to-earnings ratio of -26.91, a P/E/G ratio of 0.34 and a beta of 0.51. The firm has a fifty day moving average price of $51.11 and a 200 day moving average price of $47.35. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period last year, the company earned $0.36 EPS. As a group, sell-side analysts expect 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. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. Newmont’s dividend payout ratio (DPR) is -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.