Wolverine Asset Management LLC Sells 3,500 Shares of Newmont Co. (NYSE:NEM)

Wolverine Asset Management LLC trimmed its position in shares of Newmont Co. (NYSE:NEM) by 15.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,000 shares of the basic materials company’s stock after selling 3,500 shares during the period. Wolverine Asset Management LLC’s holdings in Newmont were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings 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 worth $4,836,262,000 after acquiring an additional 16,190,422 shares during the period. Maj Invest Holding A S boosted its holdings in shares of Newmont by 296.0% in the second quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after acquiring an additional 2,561,823 shares during the period. Capital International Investors bought a new position in shares of Newmont in the first quarter worth $49,444,000. Van ECK Associates Corp boosted its holdings 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 acquiring an additional 1,289,084 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Newmont by 262.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after acquiring an additional 1,096,905 shares during the period. 68.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Scotiabank downgraded Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, Bernstein Bank increased their price objective on Newmont from $55.00 to $58.00 in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $54.14.

Newmont Stock Down 1.8 %

NYSE NEM opened at $41.58 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market capitalization of $47.34 billion, a PE ratio of -27.36, a PEG ratio of 0.37 and a beta of 0.51. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The business’s 50-day moving average is $51.95 and its 200 day moving average is $47.46.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. Sell-side analysts forecast that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. Newmont’s payout ratio is -65.79%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of Newmont 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 completion of the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This trade represents 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 accessible through the SEC website. In other news, CEO Thomas Ronald Palmer sold 20,000 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 $1,076,200.00. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares in the company, 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. Over 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.

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.