Newmont Co. (NYSE:NEM) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in Newmont Co. (NYSE:NEM) by 3.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 225,841 shares of the basic materials company’s stock after selling 7,181 shares during the period. Amalgamated Bank’s holdings in Newmont were worth $12,071,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. LRI Investments LLC purchased a new stake in Newmont in the 1st quarter worth approximately $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Newmont during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new position in shares of Newmont during the 2nd quarter worth about $27,000. Hoese & Co LLP acquired a new stake in shares of Newmont in the third quarter worth approximately $27,000. Finally, Highline Wealth Partners LLC purchased a new stake in Newmont in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont 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 transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’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 $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 $15,293,378.43. 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 over the last 90 days. 0.06% of the stock is owned by company insiders.

Newmont Price Performance

Shares of NEM opened at $46.00 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company has a market cap of $52.37 billion, a P/E ratio of -30.26, a PEG ratio of 0.37 and a beta of 0.51. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The stock has a fifty day moving average price of $52.64 and a 200 day moving average price of $47.32.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, research analysts forecast that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Dividend Announcement

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NEM shares. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $59.00 to $55.00 in a research report on Friday, October 25th. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Royal Bank of Canada dropped their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.85.

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.