Victory Capital Management Inc. Has $75.28 Million Stock Position in Newmont Co. (NYSE:NEM)

Victory Capital Management Inc. lowered its position in shares of Newmont Co. (NYSE:NEM) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,408,419 shares of the basic materials company’s stock after selling 101,882 shares during the quarter. Victory Capital Management Inc. owned 0.12% of Newmont worth $75,280,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NEM. LRI Investments LLC acquired a new position in Newmont during the 1st quarter worth approximately $25,000. Strategic Financial Concepts LLC acquired a new position in Newmont during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont in the 2nd quarter valued at approximately $27,000. Hoese & Co LLP acquired a new stake in shares of Newmont in the 3rd quarter valued at approximately $27,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Newmont in the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 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 $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont 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 transaction, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,000 shares of company stock worth $2,444,440. Company insiders own 0.06% of the company’s stock.

Newmont Stock Down 0.8 %

NEM stock opened at $41.23 on Thursday. 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 market capitalization of $46.94 billion, a price-to-earnings ratio of -27.12, a PEG ratio of 0.34 and a beta of 0.51. The business’s fifty day moving average price is $51.73 and its two-hundred day moving average price is $47.45. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. On average, equities analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is currently -65.79%.

Analyst Upgrades and Downgrades

NEM has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Veritas raised Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada cut 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. 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.14.

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.