Erste Asset Management GmbH Purchases Shares of 218,993 Newmont Co. (NYSE:NEM)

Erste Asset Management GmbH acquired a new stake in Newmont Co. (NYSE:NEM - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 218,993 shares of the basic materials company's stock, valued at approximately $11,800,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Strategic Financial Concepts LLC purchased a new stake in Newmont in the 2nd quarter worth $25,000. Meeder Asset Management Inc. bought a new position in Newmont in the second quarter worth approximately $27,000. Hoese & Co LLP acquired a new position in shares of Newmont during the third quarter worth $27,000. Avior Wealth Management LLC increased its position in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock worth $27,000 after purchasing an additional 326 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $28,000. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group upped their target price on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Raymond James reduced their price target on shares of Newmont from $62.00 to $59.00 and set an "outperform" rating for the company in a research report on Monday, November 25th. Cibc World Mkts downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Monday, October 28th. UBS Group downgraded shares of Newmont from a "buy" rating to a "neutral" rating and cut their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Finally, CLSA initiated coverage on shares of Newmont in a research report on Friday. They set an "underperform" rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average target price of $54.31.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 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 value of $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares of the company's stock, valued at $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 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 transaction of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by company insiders.

Newmont Stock Down 2.6 %

NYSE:NEM traded down $1.11 during midday trading on Monday, hitting $40.83. 4,614,037 shares of the company were exchanged, compared to its average volume of 10,473,789. The company has a fifty day simple moving average of $49.09 and a 200 day simple moving average of $47.49. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $46.48 billion, a PE ratio of -27.59, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51.

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 analysts' consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 earnings per share. As a group, equities analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid 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 2.45%. 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.