Comprehensive Money Management Services LLC Makes New Investment in Newmont Co. (NYSE:NEM)

Comprehensive Money Management Services LLC acquired a new stake in Newmont Co. (NYSE:NEM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,072 shares of the basic materials company's stock, valued at approximately $710,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HHM Wealth Advisors LLC raised its position in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after buying an additional 350 shares during the last quarter. Redwood Park Advisors LLC acquired a new position in shares of Newmont during the 4th quarter worth about $37,000. Promus Capital LLC purchased a new position in shares of Newmont in the fourth quarter valued at approximately $38,000. Kestra Investment Management LLC purchased a new position in Newmont in the 4th quarter valued at $43,000. Finally, Assetmark Inc. lifted its holdings in Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 820 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total value of $106,923.96. Following the transaction, the director now directly owns 47,257 shares of the company's stock, valued at $2,432,790.36. The trade was a 4.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the transaction, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,154 shares of company stock worth $328,840. 0.05% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on NEM. Cfra Research upgraded Newmont to a "strong-buy" rating in a report on Friday, April 25th. Argus set a $63.00 target price on Newmont in a research report on Friday, April 25th. Royal Bank of Canada upped their price target on Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a report on Friday, April 4th. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. Finally, Wall Street Zen cut Newmont from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average target price of $56.52.

Newmont Stock Performance

NEM stock traded down $0.31 during trading on Thursday, reaching $52.54. 9,172,192 shares of the company's stock were exchanged, compared to its average volume of 10,127,632. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The company's fifty day moving average price is $51.29 and its 200-day moving average price is $45.38. The firm has a market cap of $58.47 billion, a PE ratio of 17.93, a P/E/G ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the business earned $0.55 EPS. On average, research analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be given 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 payout ratio is presently 22.42%.

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.