UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $431.70 Million Stock Holdings in Newmont Co. (NYSE:NEM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Newmont Co. (NYSE:NEM) by 9.5% during the third quarter, HoldingsChannel.com reports. The firm owned 8,076,717 shares of the basic materials company’s stock after selling 851,379 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Newmont were worth $431,701,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NEM. LRI Investments LLC acquired a new stake in shares of Newmont during the first quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont during the second quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont during the second quarter valued at about $27,000. Hoese & Co LLP acquired a new stake in shares of Newmont during the third quarter valued at about $27,000. Finally, Avior Wealth Management LLC boosted its stake in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’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 sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock worth $2,444,440 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on NEM. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 29th. Royal Bank of Canada cut their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Jefferies Financial Group lifted their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Eight investment 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Trading Up 0.1 %

NYSE NEM opened at $42.04 on Friday. The company has a market cap of $47.86 billion, a price-to-earnings ratio of -27.66, a P/E/G ratio of 0.36 and a beta of 0.51. 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 $49.35 and a 200-day moving average price of $47.43. 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 released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS 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 negative net margin of 7.03% and a positive return on equity of 9.80%. The company’s revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, equities analysts expect that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. Newmont’s dividend payout ratio is -65.79%.

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.