Parametrica Management Ltd Invests $208,000 in Newmont Co. (NYSE:NEM)

Parametrica Management Ltd bought a new position in Newmont Co. (NYSE:NEM) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 3,886 shares of the basic materials company’s stock, valued at approximately $208,000.

A number of other large investors have also recently made changes to their positions in the business. Oppenheimer & Co. Inc. increased its holdings in shares of Newmont by 7.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 253,849 shares of the basic materials company’s stock worth $13,568,000 after buying an additional 17,854 shares during the last quarter. Empower Advisory Group LLC grew its stake in Newmont by 1.3% in the 3rd quarter. Empower Advisory Group LLC now owns 1,786,315 shares of the basic materials company’s stock worth $95,479,000 after acquiring an additional 22,773 shares in the last quarter. Rakuten Securities Inc. grew its stake in Newmont by 1.4% in the 3rd quarter. Rakuten Securities Inc. now owns 41,974 shares of the basic materials company’s stock worth $2,244,000 after acquiring an additional 573 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Newmont in the 3rd quarter worth about $720,000. Finally, Waverton Investment Management Ltd grew its stake in Newmont by 14.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after acquiring an additional 65,075 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred 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 approximately $4,928,780.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred 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 approximately $4,928,780.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’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 transaction of $1,076,200.00. Following the completion of the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock worth $2,444,440 in the last ninety days. 0.06% of the stock is owned by insiders.

Newmont Price Performance

NEM traded up $0.01 on Wednesday, reaching $41.59. 2,130,576 shares of the company’s stock were exchanged, compared to its average volume of 10,452,109. The stock has a market cap of $47.35 billion, a PE ratio of -27.36, a P/E/G ratio of 0.35 and a beta of 0.51. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The stock’s fifty day moving average price is $51.73 and its 200-day moving average price is $47.45. 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 posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Sell-side analysts expect that Newmont Co. will post 3.15 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.40%. Newmont’s payout ratio is -65.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NEM shares. BMO Capital Markets upped their price target on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. UBS Group downgraded shares of 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 note on Wednesday, October 30th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday, August 29th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada reduced 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. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

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.