Newmont Co. (NYSE:NEM) Shares Sold by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL trimmed its holdings in Newmont Co. (NYSE:NEM) by 5.8% during the third quarter, Holdings Channel.com reports. The fund owned 8,591 shares of the basic materials company’s stock after selling 529 shares during the period. Chesapeake Capital Corp IL’s holdings in Newmont were worth $459,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in Newmont in the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new stake in Newmont in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in Newmont in the 2nd quarter valued at about $27,000. Hoese & Co LLP acquired a new stake in Newmont in the 3rd quarter valued at about $27,000. Finally, Highline Wealth Partners LLC purchased a new position in Newmont in the 3rd quarter valued at about $32,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Newmont Trading Up 0.6 %

NYSE NEM opened at $40.93 on Monday. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company’s 50 day moving average price is $51.11 and its 200 day moving average price is $47.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market capitalization of $46.60 billion, a price-to-earnings ratio of -26.93, a PEG ratio of 0.34 and a beta of 0.51.

Newmont (NYSE:NEM) last posted 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 business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the business posted $0.36 EPS. The company’s quarterly revenue was up 84.7% on a year-over-year basis. On average, sell-side analysts predict that Newmont Co. will post 3.15 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 2.44%. Newmont’s payout ratio is -65.79%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NEM shares. Royal Bank of Canada reduced their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group upped 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 upped 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. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Veritas upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

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.