Newmont Co. (NYSE:NEM) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP decreased its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 64.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,254 shares of the basic materials company's stock after selling 80,124 shares during the period. Cinctive Capital Management LP's holdings in Newmont were worth $2,365,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont during the second quarter worth $27,000. Hoese & Co LLP purchased a new stake in shares of Newmont in the third quarter valued at $27,000. Avior Wealth Management LLC increased 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 valued at $27,000 after purchasing an additional 326 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in Newmont during the third quarter worth about $28,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Harry M. Iv Conger bought 9,498 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was purchased at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the transaction, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares of the company's stock, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Newmont Stock Up 1.7 %

Shares of Newmont stock traded up $0.71 during trading on Tuesday, reaching $41.62. The company had a trading volume of 5,267,801 shares, compared to its average volume of 10,488,165. 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. The firm's fifty day moving average is $49.09 and its 200-day moving average is $47.49. The company has a market cap of $47.38 billion, a price-to-earnings ratio of -26.91, a price-to-earnings-growth ratio of 0.36 and a beta of 0.49.

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 positive return on equity of 9.80% and a negative net margin of 7.03%. 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 previous year, the business posted $0.36 EPS. Newmont's revenue was up 84.7% compared to the same quarter last year. On average, analysts anticipate that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. Newmont's payout ratio is currently -65.79%.

Wall Street Analyst Weigh In

Several brokerages recently commented on NEM. JPMorgan Chase & Co. raised shares of Newmont from a "neutral" rating to an "overweight" rating in a research report on Tuesday, November 19th. Royal Bank of Canada cut their target price 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. Jefferies Financial Group boosted their price target on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Argus upgraded Newmont from a "hold" rating to a "buy" rating and set a $58.00 price objective on the stock in a report on Thursday, August 29th. Finally, CIBC downgraded shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and an average price target of $54.31.

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.