Concord Asset Management LLC VA Buys 410 Shares of Newmont Co. (NYSE:NEM)

Concord Asset Management LLC VA increased its stake in Newmont Co. (NYSE:NEM) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,952 shares of the basic materials company’s stock after purchasing an additional 410 shares during the quarter. Concord Asset Management LLC VA’s holdings in Newmont were worth $372,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. LRI Investments LLC bought a new position in Newmont in the 1st quarter worth $25,000. Strategic Financial Concepts LLC purchased a new position in shares of Newmont in the second quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in shares of Newmont in the second quarter worth about $27,000. Hoese & Co LLP bought a new stake in Newmont during the 3rd quarter valued at approximately $27,000. Finally, Highline Wealth Partners LLC purchased a new position in Newmont in the 3rd quarter worth approximately $32,000. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. This represents a 3.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock valued at $2,444,440 in the last quarter. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NEM. Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $59.00 to $55.00 in a report on Friday, October 25th. Veritas raised shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. CIBC cut shares of 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 company an “outperform” rating in a research report on Thursday, July 25th. Finally, UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Nine 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

Newmont Stock Performance

NYSE NEM opened at $40.93 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The business’s 50 day moving average price is $51.11 and its 200-day moving average price is $47.40. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last released its 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). The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. On average, analysts forecast that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.44%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

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.