Newmont Co. (NYSE:NEM) Position Decreased by D.A. Davidson & CO.

D.A. Davidson & CO. reduced its holdings in Newmont Co. (NYSE:NEM) by 7.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,764 shares of the basic materials company’s stock after selling 7,791 shares during the quarter. D.A. Davidson & CO.’s holdings in Newmont were worth $5,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after acquiring an additional 1,226,697 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in shares of Newmont by 24.4% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 24,089 shares of the basic materials company’s stock worth $1,288,000 after acquiring an additional 4,728 shares during the last quarter. Mirabella Financial Services LLP raised its position in shares of Newmont by 40.6% during the third quarter. Mirabella Financial Services LLP now owns 19,031 shares of the basic materials company’s stock worth $1,017,000 after purchasing an additional 5,500 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of Newmont by 31.6% during the third quarter. Brown Brothers Harriman & Co. now owns 4,526 shares of the basic materials company’s stock valued at $242,000 after purchasing an additional 1,088 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Newmont by 662.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 16,563 shares of the basic materials company’s stock valued at $885,000 after purchasing an additional 14,391 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

NEM stock opened at $42.04 on Thursday. The firm has a 50 day moving average of $49.57 and a two-hundred day moving average of $47.47. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The company has a market capitalization of $47.86 billion, a price-to-earnings ratio of -27.66, a P/E/G ratio of 0.37 and a beta of 0.51. 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 (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business 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 company posted $0.36 earnings per share. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, equities analysts anticipate that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.38%. Newmont’s dividend payout ratio (DPR) is currently -65.79%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on NEM shares. Jefferies Financial Group upped their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Eight 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

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.