Hanseatic Management Services Inc. Purchases Shares of 16,242 Newmont Co. (NYSE:NEM)

Hanseatic Management Services Inc. acquired a new position in shares of Newmont Co. (NYSE:NEM) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,242 shares of the basic materials company’s stock, valued at approximately $868,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in Newmont in the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new position in Newmont in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new position in Newmont in the 2nd quarter valued at approximately $27,000. Hoese & Co LLP acquired a new position in shares of Newmont in the third quarter worth $27,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Newmont during the third quarter worth $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $44.48 on Thursday. The firm has a market cap of $50.64 billion, a price-to-earnings ratio of -29.26, a price-to-earnings-growth ratio of 0.38 and a beta of 0.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The firm’s fifty day moving average price is $52.49 and its 200 day moving average price is $47.30.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) 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 business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the company posted $0.36 EPS. The company’s revenue was up 84.7% compared to the same quarter last year. On average, sell-side analysts expect that Newmont Co. will post 3.12 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.25%. Newmont’s dividend payout ratio (DPR) is currently -65.79%.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the 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 transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,000 shares of company stock worth $2,444,440. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several analyst reports. Jefferies Financial Group boosted their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reduced their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong 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 $53.85.

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.