NorthRock Partners LLC Reduces Holdings in Newmont Co. (NYSE:NEM)

NorthRock Partners LLC cut its position in Newmont Co. (NYSE:NEM) by 14.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,160 shares of the basic materials company’s stock after selling 688 shares during the quarter. NorthRock Partners LLC’s holdings in Newmont were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NEM. Vanguard Group Inc. grew its stake in shares of Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after acquiring an additional 16,190,422 shares in the last quarter. Maj Invest Holding A S boosted its holdings in Newmont by 296.0% in the second quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock valued at $143,502,000 after purchasing an additional 2,561,823 shares during the last quarter. Capital International Investors acquired a new stake in Newmont during the 1st quarter valued at approximately $49,444,000. Van ECK Associates Corp increased its holdings in Newmont by 2.6% during the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after purchasing an additional 1,289,084 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Newmont by 262.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after purchasing an additional 1,096,905 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock worth $2,444,440 in the last three months. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NEM. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Raymond James raised their price objective on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. BMO Capital Markets boosted their target price on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.85.

Newmont Stock Performance

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

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, research analysts predict that Newmont Co. will post 3.12 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is -65.79%.

Newmont 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.