Metis Global Partners LLC Has $5.98 Million Position in Newmont Co. (NYSE:NEM)

Metis Global Partners LLC boosted its holdings in Newmont Co. (NYSE:NEM) by 22.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 111,873 shares of the basic materials company’s stock after purchasing an additional 20,876 shares during the quarter. Metis Global Partners LLC’s holdings in Newmont were worth $5,980,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in shares of Newmont during the first quarter worth about $25,000. Strategic Financial Concepts LLC bought a new position in Newmont in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. bought a new position in Newmont in the 2nd quarter valued at $27,000. Hoese & Co LLP purchased a new stake in shares of Newmont during the 3rd quarter valued at $27,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Newmont during the 3rd quarter worth $32,000. 68.85% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Down 1.2 %

Shares of Newmont stock opened at $40.74 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market capitalization of $46.38 billion, a PE ratio of -27.12, a P/E/G ratio of 0.34 and a beta of 0.51. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The company’s fifty day simple moving average is $51.52 and its 200-day simple moving average is $47.41.

Newmont (NYSE:NEM) last issued its quarterly earnings results 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). The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. As a group, equities analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed 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. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Wednesday, November 27th. Newmont’s payout ratio is currently -65.79%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NEM. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. BMO Capital Markets raised their target price on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada cut their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.14.

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.