B. Metzler seel. Sohn & Co. Holding AG Makes New $6.27 Million Investment in Newmont Co. (NYSE:NEM)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Newmont Co. (NYSE:NEM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 117,360 shares of the basic materials company's stock, valued at approximately $6,273,000.

Other institutional investors have also made changes to their positions in the company. Waverton Investment Management Ltd boosted its holdings in shares of Newmont by 14.0% during the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company's stock worth $28,379,000 after purchasing an additional 65,075 shares during the period. Red Cedar Investment Management LLC bought a new position in shares of Newmont in the third quarter valued at approximately $1,263,000. Bessemer Group Inc. raised its position in shares of Newmont by 7.5% in the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company's stock valued at $271,000 after purchasing an additional 529 shares during the period. Herr Investment Group LLC bought a new position in shares of Newmont in the second quarter valued at approximately $419,000. Finally, Truist Financial Corp raised its position in shares of Newmont by 8.1% in the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company's stock valued at $6,295,000 after purchasing an additional 11,276 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent analyst reports. Cibc World Mkts lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Bernstein Bank boosted their target price on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. raised shares of Newmont from a "neutral" rating to an "overweight" rating in a research report on Tuesday. BMO Capital Markets boosted their target price on shares of Newmont from $56.00 to $57.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Finally, Argus raised shares of Newmont from a "hold" rating to a "buy" rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $54.14.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 3.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business's stock in a transaction dated 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 directly owns 291,469 shares of the company's stock, valued at $15,293,378.43. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock worth $2,444,440 in the last 90 days. Corporate insiders own 0.06% of the company's stock.

Newmont Price Performance

Shares of NYSE:NEM traded down $0.20 on Wednesday, hitting $42.99. The stock had a trading volume of 7,874,902 shares, compared to its average volume of 10,536,924. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm's 50 day moving average price is $50.63 and its 200-day moving average price is $47.44. The company has a market capitalization of $48.94 billion, a price-to-earnings ratio of -28.28, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results 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). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the firm posted $0.36 EPS. The firm's revenue for the quarter was up 84.7% on a year-over-year basis. On average, equities research analysts predict that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.33%. Newmont's dividend payout ratio is presently -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.