Empowered Funds LLC Decreases Holdings in Newmont Co. (NYSE:NEM)

Empowered Funds LLC trimmed its position in shares of Newmont Co. (NYSE:NEM) by 14.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,285 shares of the basic materials company’s stock after selling 14,520 shares during the quarter. Empowered Funds LLC’s holdings in Newmont were worth $4,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. LRI Investments LLC purchased a new stake in shares of Newmont during the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new stake in Newmont during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in Newmont in the second quarter worth approximately $27,000. Hoese & Co LLP purchased a new position in shares of Newmont during the 3rd quarter worth $27,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Newmont during the 3rd quarter valued at $32,000. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Royal Bank of Canada lowered their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. BMO Capital Markets raised their target price on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Raymond James upped their price target on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Bernstein Bank raised their price objective on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.14.

Newmont Trading Up 0.6 %

Shares of NEM opened at $40.93 on Monday. The stock has a market capitalization of $46.60 billion, a PE ratio of -26.93, a P/E/G ratio of 0.34 and a beta of 0.51. The company’s fifty day moving average is $51.11 and its 200 day moving average is $47.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. 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 earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter last year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 84.7% on a year-over-year basis. Sell-side analysts expect that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Insider Activity

In related news, 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 transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction 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 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 in the last ninety days. Insiders own 0.06% of the company’s stock.

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.