Newmont Co. (NYSE:NEM) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. decreased its holdings in Newmont Co. (NYSE:NEM) by 16.8% in the third quarter, Holdings Channel reports. The fund owned 355,033 shares of the basic materials company’s stock after selling 71,803 shares during the period. Vontobel Holding Ltd.’s holdings in Newmont were worth $18,977,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. LRI Investments LLC acquired a new position in shares of Newmont during the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont during the 2nd quarter valued at approximately $27,000. Hoese & Co LLP purchased a new stake in shares of Newmont during the 3rd quarter valued at approximately $27,000. Finally, Heritage Wealth Advisors grew its position in Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 878 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research analyst reports. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and lifted their target price for the company from $46.00 to $61.00 in a research report on Wednesday, July 10th. Bank of America upped their target price on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $53.46.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 on Tuesday, October 1st. The shares were 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 of the company’s stock, valued at $14,607,746.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is currently owned by insiders.

Newmont Stock Performance

Shares of NEM opened at $56.27 on Thursday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $57.32. The stock has a market capitalization of $64.89 billion, a PE ratio of -21.07, a PEG ratio of 0.43 and a beta of 0.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The stock has a 50-day simple moving average of $52.51 and a 200-day simple moving average of $46.04.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm’s revenue was up 64.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. On average, analysts predict that Newmont Co. will post 3.1 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.78%. Newmont’s dividend payout ratio is currently -37.45%.

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.