Newmont Co. (NYSE:NEM) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its position in Newmont Co. (NYSE:NEM - Free Report) by 32.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,958 shares of the basic materials company's stock after selling 15,691 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Newmont were worth $1,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of NEM. Waverton Investment Management Ltd grew its holdings in shares of Newmont by 14.0% in 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 last quarter. Red Cedar Investment Management LLC bought a new stake in Newmont during the 3rd quarter valued at approximately $1,263,000. Bessemer Group Inc. grew its holdings in shares of Newmont by 7.5% during the 1st quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company's stock worth $271,000 after acquiring an additional 529 shares during the period. Herr Investment Group LLC purchased a new stake in Newmont in the second quarter worth $419,000. Finally, Truist Financial Corp lifted its position in Newmont by 8.1% during the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company's stock valued at $6,295,000 after buying an additional 11,276 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. CIBC cut shares of Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. 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. UBS Group cut Newmont from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Veritas upgraded Newmont to a "strong-buy" rating in a report on Monday, September 30th. Finally, Scotiabank lowered shares of Newmont from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and a consensus target price of $54.14.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction 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 sale, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was 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 owns 291,469 shares of the company's stock, valued at approximately $15,293,378.43. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by company insiders.

Newmont Trading Up 0.6 %

NEM stock traded up $0.25 during midday trading on Friday, reaching $40.93. 11,714,810 shares of the company traded hands, compared to its average volume of 10,549,361. The business has a 50 day moving average of $51.30 and a 200-day moving average of $47.36. 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 has a market capitalization of $46.60 billion, a price-to-earnings ratio of -26.72, a P/E/G ratio of 0.34 and a beta of 0.51. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted 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). 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 for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter last year, the firm earned $0.36 EPS. The company's revenue was up 84.7% compared to the same quarter last year. As a group, sell-side analysts expect that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 yield of 2.44%. Newmont's dividend payout ratio is currently -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.