Rakuten Securities Inc. Grows Position in Newmont Co. (NYSE:NEM)

Rakuten Securities Inc. raised its holdings in shares of Newmont Co. (NYSE:NEM) by 1.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 41,974 shares of the basic materials company’s stock after purchasing an additional 573 shares during the period. Newmont accounts for about 1.0% of Rakuten Securities Inc.’s portfolio, making the stock its 20th largest position. Rakuten Securities Inc.’s holdings in Newmont were worth $2,244,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. LRI Investments LLC bought a new stake in shares of Newmont in the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont during the 2nd quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in Newmont during the 2nd quarter worth $27,000. Hoese & Co LLP acquired a new position in Newmont during the 3rd quarter valued at about $27,000. Finally, Highline Wealth Partners LLC acquired a new stake in Newmont in the third quarter worth about $32,000. Institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the transaction, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $42.34 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a fifty day moving average of $51.95 and a 200 day moving average of $47.46. The firm has a market cap of $48.20 billion, a PE ratio of -27.86, a PEG ratio of 0.37 and a beta of 0.51. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the company earned $0.36 EPS. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, research analysts predict that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.36%. Newmont’s payout ratio is currently -65.79%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Jefferies Financial Group lifted their price target on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. BMO Capital Markets raised their price objective on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $54.14.

About Newmont

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.