Financial Counselors Inc. Has $4.18 Million Position in Newmont Co. (NYSE:NEM)

Financial Counselors Inc. trimmed its holdings in shares of Newmont Co. (NYSE:NEM) by 0.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 78,260 shares of the basic materials company’s stock after selling 422 shares during the period. Financial Counselors Inc.’s holdings in Newmont were worth $4,183,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Public Sector Pension Investment Board boosted its holdings in shares of Newmont by 11.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 49,238 shares of the basic materials company’s stock valued at $2,632,000 after buying an additional 4,900 shares during the last quarter. National Wealth Management Group LLC bought a new stake in Newmont during the third quarter worth $431,000. Glenmede Trust Co. NA grew its position in shares of Newmont by 8.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 29,642 shares of the basic materials company’s stock valued at $1,584,000 after acquiring an additional 2,199 shares during the period. Bridgewater Associates LP increased its stake in shares of Newmont by 1,947.6% during the 3rd quarter. Bridgewater Associates LP now owns 711,591 shares of the basic materials company’s stock worth $38,035,000 after purchasing an additional 676,838 shares during the last quarter. Finally, Townsquare Capital LLC raised its holdings in shares of Newmont by 117.7% in the 3rd quarter. Townsquare Capital LLC now owns 23,299 shares of the basic materials company’s stock valued at $1,245,000 after purchasing an additional 12,596 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on 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 in the company, valued at $15,293,378.43. This represents a 6.42 % decrease in their position. The sale 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 company’s stock in a transaction that occurred 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 owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Up 0.1 %

Shares of NEM stock opened at $42.04 on Friday. The stock has a market cap of $47.86 billion, a P/E ratio of -27.66, a price-to-earnings-growth ratio of 0.36 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 company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $49.35 and a 200 day simple moving average of $47.43.

Newmont (NYSE:NEM) last released 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). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The business’s revenue was up 84.7% compared to the same quarter last year. On average, research analysts predict that Newmont Co. will post 3.08 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. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.38%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Royal Bank of Canada reduced their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. Bernstein Bank increased their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Eight 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.31.

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.