Franklin Resources Inc. Has $88.18 Million Holdings in Newmont Co. (NYSE:NEM)

Franklin Resources Inc. lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 5.6% during the third quarter, HoldingsChannel.com reports. The firm owned 1,608,555 shares of the basic materials company’s stock after selling 95,032 shares during the quarter. Franklin Resources Inc.’s holdings in Newmont were worth $88,181,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Van ECK Associates Corp grew its position in shares of Newmont by 2.6% during the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after purchasing an additional 1,289,084 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after acquiring an additional 326,243 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock worth $337,909,000 after acquiring an additional 109,084 shares in the last quarter. FMR LLC boosted its position in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Newmont by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after acquiring an additional 545,903 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, Director Harry M. Iv Conger bought 9,498 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This represents a 189.96 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’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 transaction of $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Newmont Trading Down 3.2 %

Shares of NYSE NEM opened at $40.22 on Monday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The stock has a market cap of $45.79 billion, a P/E ratio of -26.46, a price-to-earnings-growth ratio of 0.36 and a beta of 0.49. The firm has a 50-day moving average of $46.50 and a 200 day moving average of $47.39. 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 issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) 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 analysts’ expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s quarterly revenue was up 84.7% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. As a group, sell-side analysts expect that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a $0.25 dividend. 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 2.49%. Newmont’s dividend payout ratio is presently -65.79%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NEM shares. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Raymond James lowered their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Bernstein Bank lifted their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Royal Bank of Canada decreased their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

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.