Newmont Co. (NYSE:NEM) Shares Sold by AIA Group Ltd

AIA Group Ltd lessened its stake in shares of Newmont Co. (NYSE:NEM) by 37.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,924 shares of the basic materials company’s stock after selling 12,649 shares during the quarter. AIA Group Ltd’s holdings in Newmont were worth $1,118,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Empirical Finance LLC raised its stake in Newmont by 5.3% in the 1st quarter. Empirical Finance LLC now owns 29,901 shares of the basic materials company’s stock valued at $1,072,000 after purchasing an additional 1,506 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Newmont by 102.9% during the first quarter. Empowered Funds LLC now owns 25,453 shares of the basic materials company’s stock valued at $912,000 after buying an additional 12,908 shares during the period. Forsta AP Fonden boosted its position in Newmont by 9.6% during the first quarter. Forsta AP Fonden now owns 252,100 shares of the basic materials company’s stock worth $9,035,000 after acquiring an additional 22,100 shares during the last quarter. Significant Wealth Partners LLC boosted its position in Newmont by 218.7% during the first quarter. Significant Wealth Partners LLC now owns 89,560 shares of the basic materials company’s stock worth $3,210,000 after acquiring an additional 61,462 shares during the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in Newmont in the 1st quarter worth approximately $316,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. BMO Capital Markets increased their price objective on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.85.

Newmont Stock Performance

Shares of NEM stock opened at $45.04 on Friday. 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’s fifty day moving average price is $52.17 and its two-hundred day moving average price is $47.34. The firm has a market capitalization of $51.28 billion, a P/E ratio of -29.63, a P/E/G 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.

Newmont (NYSE:NEM) last released 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 positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the firm posted $0.36 EPS. The company’s revenue was up 84.7% compared to the same quarter last year. On average, research analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed 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. This represents a $1.00 annualized dividend and a yield of 2.22%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 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 value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. The trade was 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 quarter. 0.06% of the stock is owned by corporate insiders.

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.