MML Investors Services LLC Has $1.21 Million Position in Newmont Co. (NYSE:NEM)

MML Investors Services LLC grew its holdings in shares of Newmont Co. (NYSE:NEM – Get Rating) by 10.4% in the third quarter, HoldingsChannel.com reports. The fund owned 28,684 shares of the basic materials company’s stock after acquiring an additional 2,710 shares during the quarter. MML Investors Services LLC’s holdings in Newmont were worth $1,206,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Kerntke Otto McGlone Wealth Management Group grew its holdings in Newmont by 1.6% during the 2nd quarter. Kerntke Otto McGlone Wealth Management Group now owns 15,790 shares of the basic materials company’s stock worth $942,000 after acquiring an additional 245 shares during the period. Hedges Asset Management LLC grew its stake in shares of Newmont by 1.4% in the 3rd quarter. Hedges Asset Management LLC now owns 18,700 shares of the basic materials company’s stock valued at $786,000 after buying an additional 250 shares during the period. FinTrust Capital Advisors LLC grew its stake in shares of Newmont by 2.4% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 11,882 shares of the basic materials company’s stock valued at $495,000 after buying an additional 275 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Newmont by 25.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after buying an additional 278 shares during the period. Finally, Stratos Wealth Partners LTD. grew its stake in shares of Newmont by 4.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 7,451 shares of the basic materials company’s stock valued at $313,000 after buying an additional 285 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, COO Robert D. Atkinson sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total transaction of $144,690.00. Following the completion of the sale, the chief operating officer now owns 33,947 shares in the company, valued at approximately $1,637,263.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total value of $144,690.00. Following the completion of the transaction, the chief operating officer now directly owns 33,947 shares in the company, valued at approximately $1,637,263.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $44.25, for a total transaction of $486,750.00. Following the transaction, the chief executive officer now owns 322,039 shares of the company’s stock, valued at $14,250,225.75. The disclosure for this sale can be found here. Insiders sold a total of 28,000 shares of company stock worth $1,294,720 in the last quarter. Insiders own 0.11% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $43.94 on Friday. Newmont Co. has a 52 week low of $37.45 and a 52 week high of $86.37. The company’s 50 day moving average price is $49.41 and its two-hundred day moving average price is $45.79. The company has a quick ratio of 1.89, a current ratio of 2.23 and a debt-to-equity ratio of 0.31. The stock has a market cap of $34.88 billion, a P/E ratio of -81.37, a P/E/G ratio of 1.63 and a beta of 0.31.

Newmont (NYSE:NEM – Get Rating) last posted its earnings results on Thursday, February 23rd. The basic materials company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.03). Newmont had a positive return on equity of 6.98% and a negative net margin of 3.60%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the business earned $0.78 EPS. Newmont’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Newmont Co. will post 2.3 earnings per share for the current year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $1.60 annualized dividend and a dividend yield of 3.64%. Newmont’s payout ratio is currently -296.30%.

Analysts Set New Price Targets

Several brokerages have recently commented on NEM. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and reduced their target price for the company from $59.00 to $53.00 in a research note on Tuesday, February 14th. BNP Paribas upgraded Newmont from a “neutral” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Monday, February 13th. Fundamental Research restated a “buy” rating and issued a $52.00 target price (down from $63.91) on shares of Newmont in a research note on Tuesday, November 15th. TD Securities raised shares of Newmont from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, February 24th. Finally, Credit Suisse Group raised their price target on shares of Newmont to $54.00 in a research report on Monday, November 21st. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.93.

About Newmont

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Newmont Corp. is a gold producer, engages in the exploration and acquisition of gold properties, contains copper, silver, lead, zinc or other metals. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.