Invesco LLC Decreases Stock Holdings in Newmont Co. (NYSE:NEM)

Invesco LLC lessened its holdings in Newmont Co. (NYSE:NEM) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,367 shares of the basic materials company’s stock after selling 870 shares during the period. Invesco LLC’s holdings in Newmont were worth $608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. LRI Investments LLC purchased a new stake in shares of Newmont during the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont during the second quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont during the second quarter worth about $27,000. Hoese & Co LLP acquired a new position in shares of Newmont in the third quarter worth about $27,000. Finally, Highline Wealth Partners LLC purchased a new position in Newmont in the third quarter valued at about $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction 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 transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value 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 approximately $14,607,746.89. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock worth $2,444,440 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NEM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered 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 research note on Monday, September 30th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $67.00 to $54.00 in a research report on Wednesday. Raymond James increased their price target on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group boosted their price objective on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.85.

Newmont Stock Performance

Shares of NEM stock traded down $0.18 during trading hours on Friday, reaching $45.26. The stock had a trading volume of 11,048,999 shares, compared to its average volume of 10,422,156. The firm has a market capitalization of $51.53 billion, a PE ratio of -29.78, a price-to-earnings-growth ratio of 0.39 and a beta of 0.50. The firm has a 50-day simple moving average of $52.91 and a 200-day simple moving average of $47.09. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the previous year, the business posted $0.36 EPS. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, equities analysts forecast that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Announces Dividend

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is -65.79%.

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.