M Holdings Securities Inc. Raises Stock Holdings in Newmont Co. (NYSE:NEM)

M Holdings Securities Inc. boosted its stake in Newmont Co. (NYSE:NEM – Get Rating) by 14.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,542 shares of the basic materials company’s stock after buying an additional 1,200 shares during the period. M Holdings Securities Inc.’s holdings in Newmont were worth $401,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sentinus LLC purchased a new stake in Newmont during the third quarter worth about $489,000. Captrust Financial Advisors increased its stake in shares of Newmont by 158.6% during the third quarter. Captrust Financial Advisors now owns 100,480 shares of the basic materials company’s stock worth $4,223,000 after buying an additional 61,618 shares during the period. Wealth Advisory Solutions LLC increased its stake in shares of Newmont by 10.8% during the third quarter. Wealth Advisory Solutions LLC now owns 179,305 shares of the basic materials company’s stock worth $7,536,000 after buying an additional 17,462 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Newmont by 4.9% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 28,443 shares of the basic materials company’s stock worth $1,195,000 after buying an additional 1,328 shares during the period. Finally, Kentucky Retirement Systems increased its stake in shares of Newmont by 5.5% during the third quarter. Kentucky Retirement Systems now owns 62,128 shares of the basic materials company’s stock worth $2,611,000 after buying an additional 3,224 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $44.25, for a total value of $486,750.00. Following the sale, the chief executive officer now owns 322,039 shares of the company’s stock, valued at $14,250,225.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Newmont news, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $44.25, for a total transaction of $132,750.00. Following the transaction, the chief operating officer now owns 87,751 shares of the company’s stock, valued at $3,882,981.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the 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 transaction, the chief executive officer now directly owns 322,039 shares in the company, valued at approximately $14,250,225.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,000 shares of company stock worth $1,294,720. 0.11% of the stock is owned by company insiders.

Newmont Trading Up 2.8 %

Shares of NEM opened at $46.11 on Thursday. The company has a current ratio of 2.23, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average is $48.59 and its two-hundred day moving average is $45.74. Newmont Co. has a twelve month low of $37.45 and a twelve month high of $86.37. The firm has a market capitalization of $36.60 billion, a P/E ratio of -85.39, a PEG ratio of 1.58 and a beta of 0.31.

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

Newmont Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 8th. This represents a $1.60 annualized dividend and a yield of 3.47%. Newmont’s payout ratio is currently -296.29%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BNP Paribas upgraded shares of Newmont from a “neutral” rating to an “outperform” rating and set a $60.00 target price on the stock in a research note on Monday, February 13th. National Bank Financial upped their price target on Newmont from C$76.00 to C$86.00 in a report on Friday, January 13th. Raymond James lowered their price target on Newmont from $61.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, February 24th. Canaccord Genuity Group raised Newmont from a “hold” rating to a “buy” rating and upped their price target for the company from $53.00 to $55.00 in a report on Monday. Finally, Fundamental Research set a $51.92 price target on Newmont and gave the company a “buy” rating in a report on Tuesday, March 7th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.21.

Newmont Profile

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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.