BBR Partners LLC Reduces Stock Holdings in Newmont Co. (NYSE:NEM)

BBR Partners LLC reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 9.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,890 shares of the basic materials company’s stock after selling 499 shares during the period. BBR Partners LLC’s holdings in Newmont were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. National Wealth Management Group LLC purchased a new position in Newmont during the 3rd quarter worth approximately $431,000. Glenmede Trust Co. NA raised its holdings in shares of Newmont by 8.0% during the third quarter. Glenmede Trust Co. NA now owns 29,642 shares of the basic materials company’s stock worth $1,584,000 after purchasing an additional 2,199 shares during the last quarter. Bridgewater Associates LP lifted its position in Newmont by 1,947.6% during the third quarter. Bridgewater Associates LP now owns 711,591 shares of the basic materials company’s stock valued at $38,035,000 after purchasing an additional 676,838 shares during the period. Townsquare Capital LLC grew its position in Newmont by 117.7% during the 3rd quarter. Townsquare Capital LLC now owns 23,299 shares of the basic materials company’s stock worth $1,245,000 after purchasing an additional 12,596 shares during the period. Finally, Rock Point Advisors LLC purchased a new position in shares of Newmont during the 3rd quarter valued at about $208,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on NEM shares. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, August 29th. Finally, Raymond James lowered their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday. Eight 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, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Stock Up 0.1 %

Newmont stock opened at $42.04 on Thursday. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The stock has a market cap of $47.86 billion, a PE ratio of -27.66, a P/E/G ratio of 0.37 and a beta of 0.51. 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’s fifty day moving average is $49.57 and its two-hundred day moving average is $47.47.

Newmont (NYSE:NEM) last issued 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). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the prior year, the firm posted $0.36 EPS. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. On average, sell-side analysts expect that Newmont Co. will post 3.08 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 is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. Newmont’s dividend payout ratio is presently -65.79%.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at $4,963,452.12. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by insiders.

Newmont Profile

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.