20,260 Shares in Newmont Co. (NYSE:NEM) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new stake in Newmont Co. (NYSE:NEM) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,260 shares of the basic materials company’s stock, valued at approximately $1,083,000.

Other institutional investors also recently bought and sold shares of the company. Maj Invest Holding A S increased its holdings in Newmont by 296.0% in 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 buying an additional 2,561,823 shares during the period. Van ECK Associates Corp increased its stake in shares of 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 purchasing an additional 1,289,084 shares in the last quarter. Assenagon Asset Management S.A. increased its position 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 buying an additional 1,096,905 shares in the last quarter. National Bank of Canada FI raised its position in Newmont by 47.7% during the second quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock worth $140,460,000 after acquiring an additional 1,088,742 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Newmont by 29.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock worth $197,976,000 after purchasing an additional 1,074,623 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock valued at $2,444,440 over the last quarter. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Scotiabank downgraded Newmont from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Jefferies Financial Group boosted their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.31.

Newmont Stock Performance

Shares of Newmont stock opened at $42.25 on Wednesday. The firm has a market capitalization of $48.09 billion, a P/E ratio of -27.79, a P/E/G ratio of 0.38 and a beta of 0.51. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The firm’s 50 day moving average is $49.80 and its two-hundred day moving average is $47.50.

Newmont (NYSE:NEM) last announced 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). The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. During the same quarter in the prior year, the business earned $0.36 earnings per share. Newmont’s revenue was up 84.7% compared to the same quarter last year. Research analysts forecast that Newmont Co. will post 3.09 EPS for the current fiscal year.

Newmont Announces Dividend

The company 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.37%. Newmont’s dividend payout ratio 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.