Tandem Capital Management Corp ADV Sells 400 Shares of Newmont Co. (NYSE:NEM)

Tandem Capital Management Corp ADV trimmed its position in shares of Newmont Co. (NYSE:NEM) by 8.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,350 shares of the basic materials company’s stock after selling 400 shares during the period. Tandem Capital Management Corp ADV’s holdings in Newmont were worth $233,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Newmont by 13.6% during the 1st 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 in the last quarter. Van ECK Associates Corp boosted its position in Newmont by 2.6% during the 2nd 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 in the last quarter. Legal & General Group Plc boosted its position in Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after acquiring an additional 109,084 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Newmont by 8.6% during 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 boosted its position in Newmont by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock valued at $175,872,000 after acquiring an additional 313,736 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont 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 transaction of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’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 sale, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. Insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NYSE NEM opened at $46.94 on Thursday. The firm has a market cap of $53.44 billion, a P/E ratio of -30.88, a PEG ratio of 0.40 and a beta of 0.50. 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 50 day moving average of $53.16 and a 200 day moving average of $47.06. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last announced its earnings results 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). The company 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 quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. As a group, research analysts expect that Newmont Co. will post 3.13 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.13%. Newmont’s dividend payout ratio is presently -65.79%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NEM shares. Jefferies Financial Group lifted their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Raymond James lifted their target price on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada lowered their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Argus upgraded shares of 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. Finally, BMO Capital Markets lifted their target price on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Nine investment 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, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $53.85.

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.