Captrust Financial Advisors Reduces Stock Position in Newmont Co. (NYSE:NEM)

Captrust Financial Advisors cut its holdings in Newmont Co. (NYSE:NEM) by 4.7% during the third quarter, HoldingsChannel reports. The fund owned 77,539 shares of the basic materials company’s stock after selling 3,802 shares during the period. Captrust Financial Advisors’ holdings in Newmont were worth $4,144,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after acquiring an additional 1,289,084 shares during the last quarter. Legal & General Group Plc increased its holdings in Newmont by 1.4% in the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after buying an additional 109,084 shares during the last quarter. FMR LLC increased its holdings in Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after buying an additional 1,226,697 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after purchasing an additional 545,903 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Newmont by 29.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock worth $197,976,000 after purchasing an additional 1,074,623 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NYSE:NEM opened at $41.57 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market cap of $47.33 billion, a P/E ratio of -27.35, a PEG ratio of 0.35 and a beta of 0.49. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a 50-day moving average price of $48.54 and a 200 day moving average price of $47.46.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. Research analysts predict that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. Newmont’s payout ratio is -65.79%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’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 transaction, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. This trade represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NEM. Royal Bank of Canada dropped their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. CLSA began coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday, August 29th. Finally, Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.31.

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.