Harvest Portfolios Group Inc. Has $644,000 Holdings in Newmont Co. (NYSE:NEM)

Harvest Portfolios Group Inc. lowered its position in shares of Newmont Co. (NYSE:NEM) by 10.7% during the third quarter, HoldingsChannel.com reports. The fund owned 12,046 shares of the basic materials company’s stock after selling 1,449 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Newmont were worth $644,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Red Cedar Investment Management LLC bought a new stake in shares of Newmont during the 3rd quarter valued at about $1,263,000. Bessemer Group Inc. lifted its position in shares of Newmont by 7.5% during the 1st quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 529 shares during the period. Herr Investment Group LLC bought a new position in Newmont during the second quarter worth $419,000. Truist Financial Corp boosted its stake in Newmont by 8.1% during the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock worth $6,295,000 after acquiring an additional 11,276 shares in the last quarter. Finally, Cetera Trust Company N.A acquired a new stake in Newmont in the third quarter worth $705,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NEM shares. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Thursday, August 29th. Raymond James upped their target price on Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th. BMO Capital Markets boosted their price target on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Jefferies Financial Group raised their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.85.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company’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 transaction, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’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 $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock worth $2,444,440 in the last quarter. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NEM stock opened at $44.48 on Thursday. The business has a 50 day moving average of $52.49 and a 200-day moving average of $47.30. The firm has a market cap of $50.64 billion, a PE ratio of -29.26, a P/E/G ratio of 0.38 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 company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. As a group, sell-side analysts expect that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Announces Dividend

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 2.25%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -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.