Legacy Capital Group California Inc. Decreases Holdings in Newmont Co. (NYSE:NEM)

Legacy Capital Group California Inc. decreased its position in Newmont Co. (NYSE:NEM) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,988 shares of the basic materials company’s stock after selling 379 shares during the period. Legacy Capital Group California Inc.’s holdings in Newmont were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in NEM. Vanguard Group Inc. boosted its position in shares of Newmont by 13.6% in 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 during the period. Van ECK Associates Corp raised its position in shares of 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 worth $2,131,939,000 after buying an additional 1,289,084 shares in the last quarter. Legal & General Group Plc boosted its stake in Newmont by 1.4% during 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 period. Dimensional Fund Advisors LP raised its holdings in shares of Newmont by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after acquiring an additional 545,903 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Newmont by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock worth $175,872,000 after purchasing an additional 313,736 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 14.7 %

NEM stock opened at $49.25 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $53.43 and a 200 day moving average of $46.74. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The firm has a market cap of $56.51 billion, a PE ratio of -23.23, a price-to-earnings-growth ratio of 0.49 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, research analysts forecast that Newmont Co. will post 3.07 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -47.17%.

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 directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Peter Toth sold 3,000 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 transaction of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont 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 $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock worth $3,434,640 over the last quarter. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NEM. UBS Group raised their price objective on Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada decreased their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday. BMO Capital Markets boosted their price objective on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $48.00 to $59.00 in a report on Monday, August 19th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average price target of $54.46.

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.