Versant Capital Management Inc Sells 363 Shares of Newmont Co. (NYSE:NEM)

Versant Capital Management Inc cut its stake in shares of Newmont Co. (NYSE:NEM) by 33.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 721 shares of the basic materials company’s stock after selling 363 shares during the quarter. Versant Capital Management Inc’s holdings in Newmont were worth $30,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. Manchester Capital Management LLC lifted its stake in shares of Newmont by 171.9% in the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after buying an additional 397 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Newmont in the first quarter valued at about $25,000. Heritage Wealth Advisors raised its holdings in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Newmont in the first quarter valued at about $35,000. Finally, Advantage Trust Co purchased a new stake in shares of Newmont in the fourth quarter valued at about $41,000. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NEM. National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Bank of America raised their price objective on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Finally, Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Newmont Price Performance

Shares of NEM stock traded up $0.24 during trading hours on Wednesday, hitting $47.84. 1,207,418 shares of the company’s stock were exchanged, compared to its average volume of 11,168,398. The company has a market capitalization of $55.17 billion, a PE ratio of -17.82, a PEG ratio of 0.37 and a beta of 0.47. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.72. The business’s 50 day simple moving average is $44.15 and its 200-day simple moving average is $39.37. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period last year, the firm posted $0.33 earnings per share. The business’s revenue was up 64.1% compared to the same quarter last year. On average, equities research analysts anticipate that Newmont Co. will post 2.76 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, September 5th. Newmont’s payout ratio is -37.45%.

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.