Proficio Capital Partners LLC Acquires New Shares in Newmont Co. (NYSE:NEM)

Proficio Capital Partners LLC acquired a new stake in Newmont Co. (NYSE:NEM) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 106,300 shares of the basic materials company’s stock, valued at approximately $3,956,000.

Several other large investors have also bought and sold shares of NEM. Avior Wealth Management LLC boosted its stake 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 purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Newmont during the third quarter valued at about $28,000. HHM Wealth Advisors LLC boosted its stake in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. McIlrath & Eck LLC boosted its stake in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Newmont during the fourth quarter valued at about $43,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Up 0.3 %

NYSE NEM opened at $42.51 on Wednesday. The company has a market cap of $47.90 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 0.41 and a beta of 0.52. Newmont Co. has a 52 week low of $33.22 and a 52 week high of $58.72. The business has a 50 day moving average price of $42.18 and a 200-day moving average price of $46.15. 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) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, equities analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.35%. Newmont’s payout ratio is 34.13%.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock valued at $1,166,843 over the last 90 days. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NEM. TD Securities cut their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Bernstein Bank lifted their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Scotiabank lowered their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Finally, Raymond James lowered their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average price target of $53.16.

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.