Chancellor Financial Group WB LP Takes Position in Newmont Co. (NYSE:NEM)

Chancellor Financial Group WB LP acquired a new position in Newmont Co. (NYSE:NEM) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 13,650 shares of the basic materials company’s stock, valued at approximately $508,000.

A number of other institutional investors have also made changes to their positions in the business. Strategic Financial Concepts LLC bought a new position in Newmont in the 4th quarter worth approximately $1,624,000. Inlet Private Wealth LLC increased its position in Newmont by 27.6% during the fourth quarter. Inlet Private Wealth LLC now owns 39,720 shares of the basic materials company’s stock worth $1,478,000 after acquiring an additional 8,600 shares during the period. Bfsg LLC increased its position in Newmont by 47.7% during the fourth quarter. Bfsg LLC now owns 178,566 shares of the basic materials company’s stock worth $6,646,000 after acquiring an additional 57,690 shares during the period. Swedbank AB raised its stake in Newmont by 1.7% during the 4th quarter. Swedbank AB now owns 768,848 shares of the basic materials company’s stock valued at $28,617,000 after purchasing an additional 12,608 shares during the last quarter. Finally, Koa Wealth Management LLC bought a new stake in Newmont in the 4th quarter valued at $934,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

Shares of NEM stock opened at $52.73 on Wednesday. The stock has a market capitalization of $58.69 billion, a PE ratio of 18.00, a PEG ratio of 0.41 and a beta of 0.31. The business’s 50 day simple moving average is $51.17 and its 200 day simple moving average is $45.33. 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 one year low of $36.86 and a one year high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the company posted $0.55 earnings per share. As a group, research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. Newmont’s dividend payout ratio (DPR) is presently 22.42%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NEM. Scotiabank restated a “sector perform” rating on shares of Newmont in a report on Monday, April 14th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and increased their target price for the stock from $50.00 to $60.00 in a report on Friday, April 11th. National Bankshares restated a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. Cfra Research upgraded Newmont to a “strong-buy” rating in a research note on Friday, April 25th. Finally, Raymond James restated an “outperform” rating and issued a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.52.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This trade represents a 3.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,154 shares of company stock valued at $328,840. Corporate insiders own 0.05% of the company’s stock.

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.