Claro Advisors LLC Invests in Newmont Co. (NYSE:NEM)

Claro Advisors LLC has made a significant move by acquiring a new stake in Newmont Co. (NYSE:NEM) during the third quarter. According to its recent 13F filing with the SEC, the firm purchased 15,803 shares of the company’s stock, which is valued at approximately $845,000.

• Gold Rush Continues: Time to Buy More or Take Profits?

Other institutional investors have also adjusted their positions in Newmont. Hoese & Co LLP entered into a new stake during the third quarter, valued at around $27,000. Similarly, Meeder Asset Management Inc. participated in a new stake acquisition in Newmont during the second quarter, also for approximately $27,000. In the first quarter, LRI Investments LLC made a new purchase in Newmont valued at $25,000. Heritage Wealth Advisors significantly increased its holdings in Newmont by 1,310.4% during the first quarter, now owning 945 shares worth around $34,000 after adding an extra 878 shares last quarter. Lastly, Crewe Advisors LLC also bought a new position in Newmont worth approximately $35,000. Overall, around 68.85% of Newmont’s stock is owned by institutional investors.

Insider Transactions at Newmont

In related news, Peter Toth, the Executive Vice President of Newmont, sold 3,000 shares of the company’s stock on October 1st. The shares were sold at an average price of $53.81, totaling $161,430. Following this sale, Toth retains direct ownership of 91,596 shares valued at roughly $4,928,780.76, indicating no change in percentage terms for his holdings. This transaction was publicly disclosed in a filing with the SEC. Furthermore, Thomas Ronald Palmer, the CEO of Newmont, sold 20,000 shares on September 3rd at an average price of $52.47, resulting in a total value of $1,049,400. After this sale, Palmer owns 291,469 shares valued at approximately $15,293,378.43, also reflecting no percentage decrease in ownership. In total, insiders have sold 66,000 shares worth $3,434,640 over the last quarter, with corporate insiders collectively holding 0.06% of the stock.

Analyst Upgrades and Downgrades

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Several analysts have recently evaluated Newmont shares. UBS Group raised its price target for the stock from $65.00 to $67.00, assigning it a "buy" rating in a recent report. Conversely, JPMorgan Chase & Co. downgraded Newmont from an "overweight" to a "neutral" rating in a previous note. Argus also upgraded Newmont from a "hold" to a "buy" rating with a target price set at $58.00. Additionally, Veritas has categorized Newmont as a "strong-buy." Bank of America raised its price objective from $49.00 to $50.00, maintaining a "buy" rating for the stock. Currently, five analysts have rated Newmont with a hold rating, ten have given a buy rating, and three have assigned a strong buy rating. MarketBeat.com indicates an overall consensus rating of "Moderate Buy" with an average price target of $53.46.

Get Our Latest Report on NEM

Newmont Stock Performance

• Stocks to Take Advantage of Rising Gold Prices

Newmont's stock opened at $57.62 one recent Friday. The company has a quick ratio of 1.85, a current ratio of 2.11, and a debt-to-equity ratio of 0.31. With a market capitalization of $66.44 billion, it has a P/E ratio of -21.58 and a P/E/G ratio of 0.43, along with a beta of 0.50. Newmont’s stock has a 50-day moving average price of $52.88 and a 200-day moving average price of $46.26. Over the past 12 months, the stock has reached a low of $29.42 and a high of $57.96.

Newmont last reported its earnings results on July 24th, showing earnings of $0.72 per share, which surpassed analysts' expectations estimated at $0.62 by $0.10. The company achieved a return on equity of 8.35% despite a negative net margin of 13.16%. The reported revenue for the quarter was $4.40 billion, exceeding the consensus estimate of $4.13 billion, marking a 64.1% year-over-year revenue increase. Analysts predict that Newmont will report an EPS of 3.1 for the current year.

Newmont Dividend Announcement

Recently, Newmont announced its quarterly dividend, which was paid to shareholders on September 30th. Record shareholders as of September 5th received a dividend of $0.25 per share, resulting in an annualized dividend of $1.00 and a yield of 1.74%. The company's dividend payout ratio stands at -37.45%.

Company Profile

Newmont Corporation is involved in producing and exploring for gold, as well as for copper, silver, zinc, and lead. The company’s assets and operations extend across various countries, including the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.

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This article has been generated using professional financial data to ensure accurate reporting.

Considerations for Investment

Before deciding to invest in Newmont, it is advisable to consider alternative options available in the market. While the stock currently has a "Moderate Buy" rating among analysts, other stocks may offer better opportunities.

Claro, Newmont, Investment