Newmont Co. (NYSE:NEM) Shares Sold by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC cut its holdings in Newmont Co. (NYSE:NEM) by 3.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 235,157 shares of the basic materials company’s stock after selling 8,483 shares during the period. Newmont accounts for approximately 3.1% of Longfellow Investment Management Co. LLC’s portfolio, making the stock its 8th biggest holding. Longfellow Investment Management Co. LLC’s holdings in Newmont were worth $12,569,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Maj Invest Holding A S increased its holdings in shares of Newmont by 296.0% during the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after purchasing an additional 2,561,823 shares during the period. Van ECK Associates Corp raised its holdings in Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after acquiring an additional 1,289,084 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Newmont by 262.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after purchasing an additional 1,096,905 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Newmont by 47.7% during the 2nd quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock valued at $140,460,000 after acquiring an additional 1,088,742 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in Newmont by 29.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock worth $197,976,000 after buying an additional 1,074,623 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 in the last quarter. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NEM has been the subject of several research analyst reports. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Royal Bank of Canada dropped their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Eight investment 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. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.85.

Newmont Stock Performance

NYSE NEM opened at $42.60 on Monday. 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 stock has a 50 day moving average of $50.23 and a 200-day moving average of $47.51. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

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 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 firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, equities analysts expect that Newmont Co. will post 3.09 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

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.