Jackson Square Capital LLC Buys Shares of 4,312 Newmont Co. (NYSE:NEM)

Jackson Square Capital LLC bought a new stake in Newmont Co. (NYSE:NEM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 4,312 shares of the basic materials company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Newmont in the first quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new position in Newmont in the second quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in Newmont in the second quarter worth about $27,000. Hoese & Co LLP acquired a new stake in Newmont in the third quarter worth about $27,000. Finally, Highline Wealth Partners LLC acquired a new stake in Newmont in the third quarter worth about $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 3.3 %

Shares of NEM stock opened at $44.48 on Thursday. The stock has a 50 day moving average of $52.49 and a 200 day moving average of $47.30. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market cap of $50.64 billion, a P/E ratio of -29.26, a P/E/G ratio of 0.38 and a beta of 0.51. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion during 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%. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, sell-side analysts expect that Newmont Co. will post 3.12 EPS for the current year.

Newmont Dividend Announcement

The firm 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 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 value of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Thomas Ronald Palmer sold 20,000 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 $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $2,444,440 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NEM shares. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Royal Bank of Canada lowered their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 29th. Scotiabank downgraded Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Finally, UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Nine equities research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.85.

Newmont 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.