Newmont Co. (NYSE:NEM) Shares Sold by BNP Paribas

BNP Paribas cut its holdings in shares of Newmont Co. (NYSE:NEM) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,406 shares of the basic materials company’s stock after selling 3,053 shares during the quarter. BNP Paribas’ holdings in Newmont were worth $3,443,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in Newmont during the 1st quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Newmont during the second quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont during the second quarter worth approximately $27,000. Hoese & Co LLP acquired a new stake in Newmont in the third quarter valued at approximately $27,000. Finally, Avior Wealth Management LLC lifted its stake in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, 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 completion of the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the transaction, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NEM. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Bernstein Bank raised their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Jefferies Financial Group raised their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Raymond James lowered their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday. Eight research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.31.

Newmont Stock Down 0.5 %

NEM opened at $42.25 on Wednesday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The business has a 50 day moving average price of $49.80 and a two-hundred day moving average price of $47.50. 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 quarterly earnings data 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 firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 earnings per share. On average, equities research analysts predict that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.37%. Newmont’s 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.