Prospera Private Wealth LLC Makes New Investment in Newmont Co. (NYSE:NEM)

Prospera Private Wealth LLC bought a new position in Newmont Co. (NYSE:NEM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 527 shares of the basic materials company’s stock, valued at approximately $28,000.

Other large investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Newmont during the first quarter valued at approximately $25,000. Strategic Financial Concepts LLC purchased a new stake in Newmont during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont during the second quarter valued at approximately $27,000. Hoese & Co LLP bought a new stake in Newmont in the 3rd quarter worth $27,000. Finally, 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 valued at $27,000 after purchasing an additional 326 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NEM opened at $43.37 on Friday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The firm’s fifty day simple moving average is $50.23 and its two-hundred day simple moving average is $47.42. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market cap of $49.37 billion, a price-to-earnings ratio of -28.53, a PEG ratio of 0.36 and a beta of 0.51.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s revenue was up 84.7% compared to the same quarter last year. During the same period last year, the business earned $0.36 earnings per share. Equities analysts anticipate that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Raymond James lifted 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. Scotiabank cut 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 research report on Friday, October 25th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.85.

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.