Kingsview Wealth Management LLC Boosts Position in Newmont Co. (NYSE:NEM)

Kingsview Wealth Management LLC lifted its stake in shares of Newmont Co. (NYSE:NEM – Get Rating) by 60.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,918 shares of the basic materials company’s stock after acquiring an additional 9,393 shares during the period. Kingsview Wealth Management LLC’s holdings in Newmont were worth $1,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Mather Group LLC. raised its holdings in shares of Newmont by 17.8% during the 3rd quarter. Mather Group LLC. now owns 4,792 shares of the basic materials company’s stock worth $201,000 after acquiring an additional 723 shares during the period. SeaCrest Wealth Management LLC raised its holdings in shares of Newmont by 419.1% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 17,126 shares of the basic materials company’s stock worth $720,000 after acquiring an additional 13,827 shares during the period. Neuberger Berman Group LLC increased its position in shares of Newmont by 66.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 6,532,751 shares of the basic materials company’s stock worth $274,555,000 after purchasing an additional 2,602,396 shares during the last quarter. Dana Investment Advisors Inc. increased its position in shares of Newmont by 13.6% during the 3rd quarter. Dana Investment Advisors Inc. now owns 29,424 shares of the basic materials company’s stock worth $1,237,000 after purchasing an additional 3,523 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Newmont by 9.5% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 143,198 shares of the basic materials company’s stock worth $6,019,000 after purchasing an additional 12,465 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $44.87 on Wednesday. Newmont Co. has a one year low of $37.45 and a one year high of $86.37. The company has a market cap of $35.62 billion, a PE ratio of -83.09, a P/E/G ratio of 1.58 and a beta of 0.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.23. The business has a 50-day simple moving average of $48.70 and a 200-day simple moving average of $45.74.

Newmont (NYSE:NEM – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The basic materials company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts forecast that Newmont Co. will post 2.3 EPS for the current fiscal year.

Newmont Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, March 8th. Newmont’s dividend payout ratio is presently -296.29%.

Insider Buying and Selling

In related news, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $44.25, for a total transaction of $132,750.00. Following the completion of the sale, the chief operating officer now owns 87,751 shares in the company, valued at $3,882,981.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $44.25, for a total transaction of $486,750.00. Following the completion of the sale, the chief executive officer now owns 322,039 shares in the company, valued at $14,250,225.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $44.25, for a total value of $132,750.00. Following the completion of the sale, the chief operating officer now owns 87,751 shares of the company’s stock, valued at approximately $3,882,981.75. The disclosure for this sale can be found here. Insiders sold a total of 28,000 shares of company stock worth $1,294,720 over the last 90 days. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NEM. Barclays raised their price objective on Newmont from $54.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, January 30th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $59.00 to $53.00 in a research report on Tuesday, February 14th. National Bank Financial raised their price objective on Newmont from C$76.00 to C$86.00 in a research report on Friday, January 13th. Canaccord Genuity Group raised Newmont from a “hold” rating to a “buy” rating and raised their price objective for the stock from $53.00 to $55.00 in a research report on Monday. Finally, BNP Paribas raised Newmont from a “neutral” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Monday, February 13th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $62.21.

About Newmont

(Get Rating)

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.