Mizuho Securities USA LLC Has $3.98 Million Stock Position in Newmont Co. (NYSE:NEM)

Mizuho Securities USA LLC reduced its stake in shares of Newmont Co. (NYSE:NEM) by 16.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,405 shares of the basic materials company’s stock after selling 14,497 shares during the quarter. Mizuho Securities USA LLC’s holdings in Newmont were worth $3,977,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. LRI Investments LLC acquired a new position in shares of Newmont during the first quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new position in Newmont in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont in the 2nd quarter worth approximately $27,000. Hoese & Co LLP acquired a new stake in shares of Newmont during the 3rd quarter worth approximately $27,000. Finally, Avior Wealth Management LLC increased its position in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $15,293,378.43. The trade was a 6.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated 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 $4,928,780.76. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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 company insiders.

Newmont Stock Performance

Newmont stock opened at $43.24 on Friday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The stock has a 50-day simple moving average of $50.43 and a 200 day simple moving average of $47.41. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $49.23 billion, a price-to-earnings ratio of -28.45, a P/E/G ratio of 0.36 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company 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 company’s revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. On average, research analysts anticipate that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.31%. Newmont’s payout ratio is currently -65.79%.

Analyst Ratings Changes

Several research analysts recently commented on the company. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Bernstein Bank raised their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Jefferies Financial Group upped their price objective on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Eight research 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. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $54.85.

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.