Newmont Co. (NYSE:NEM) Shares Sold by Empowered Funds LLC

Empowered Funds LLC lessened its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 14.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,285 shares of the basic materials company's stock after selling 14,520 shares during the period. Empowered Funds LLC's holdings in Newmont were worth $4,612,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NEM. Hoese & Co LLP acquired a new position in shares of Newmont during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Newmont in the 3rd quarter valued at approximately $32,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont during the 2nd quarter worth approximately $27,000. LRI Investments LLC acquired a new stake in shares of Newmont during the 1st quarter worth approximately $25,000. Finally, Northwest Investment Counselors LLC acquired a new position in Newmont in the third quarter valued at approximately $48,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Transactions at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction on 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 owns 291,469 shares in the company, valued at approximately $15,293,378.43. This represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 completion of the sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,000 shares of company stock worth $2,444,440. Insiders own 0.06% of the company's stock.

Newmont Stock Up 3.5 %

Shares of NEM traded up $1.42 during midday trading on Monday, reaching $42.36. The stock had a trading volume of 10,010,581 shares, compared to its average volume of 10,546,969. The company has a market cap of $48.22 billion, a price-to-earnings ratio of -26.93, a PEG ratio of 0.34 and a beta of 0.51. The company's fifty day simple moving average is $51.11 and its two-hundred day simple moving average is $47.44. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly 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 negative net margin of 7.03% and a positive return on equity of 9.80%. The business 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 business earned $0.36 earnings per share. The firm's quarterly revenue was up 84.7% on a year-over-year basis. Equities research analysts expect that Newmont Co. will post 3.15 earnings per share for the current 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's payout ratio is currently -65.79%.

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. Raymond James raised their target price on Newmont from $65.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Jefferies Financial Group boosted their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a report on Friday, October 4th. UBS Group cut shares of Newmont from a "buy" rating to a "neutral" rating and dropped their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Scotiabank lowered shares of Newmont from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Finally, BMO Capital Markets boosted their target price on Newmont from $56.00 to $57.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.14.

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.