Harry M. Iv Conger Buys 9,498 Shares of Newmont Co. (NYSE:NEM) Stock

Newmont Co. (NYSE:NEM) Director Harry M. Iv Conger purchased 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Newmont Price Performance

Shares of Newmont stock opened at $41.57 on Wednesday. The business’s fifty day moving average price is $48.54 and its 200 day moving average price is $47.46. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $47.33 billion, a P/E ratio of -27.35, a PEG ratio of 0.35 and a beta of 0.49.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, research analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 annualized dividend and a yield of 2.41%. Newmont’s dividend payout ratio is currently -65.79%.

Institutional Investors Weigh In On Newmont

A number of large investors have recently modified their holdings of NEM. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new stake in Newmont during the 2nd quarter worth $27,000. Hoese & Co LLP purchased a new position in Newmont in the 3rd quarter valued at about $27,000. Avior Wealth Management LLC grew its stake in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Newmont during the third quarter worth about $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NEM. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Royal Bank of Canada lowered their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Company 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.