Fmr LLC Purchases 1,226,697 Shares of Newmont Co. (NYSE:NEM)

FMR LLC raised its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 21.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,052,439 shares of the basic materials company's stock after buying an additional 1,226,697 shares during the period. FMR LLC owned about 0.62% of Newmont worth $376,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Waverton Investment Management Ltd grew its holdings in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company's stock worth $28,379,000 after acquiring an additional 65,075 shares during the last quarter. Red Cedar Investment Management LLC acquired a new position in shares of Newmont during the third quarter worth approximately $1,263,000. Herr Investment Group LLC bought a new stake in shares of Newmont during the second quarter valued at approximately $419,000. Truist Financial Corp increased its holdings 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 in the last quarter. Finally, Cetera Trust Company N.A bought a new position in Newmont in the 3rd quarter worth approximately $705,000. Institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

NEM traded down $0.10 during trading on Friday, hitting $41.94. 6,192,864 shares of the company traded hands, compared to its average volume of 11,066,907. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a market cap of $47.75 billion, a P/E ratio of -27.59, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51. The stock's fifty day moving average is $49.09 and its 200 day moving average is $47.49. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. As a group, equities analysts predict that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.38%. The ex-dividend date is Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is currently -65.79%.

Insider Transactions at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now 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. In the last three months, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on NEM shares. JPMorgan Chase & Co. upgraded Newmont from a "neutral" rating to an "overweight" rating in a research report on Tuesday, November 19th. Scotiabank lowered Newmont from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Argus upgraded 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. CIBC lowered shares of Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. Finally, UBS Group cut Newmont from a "buy" rating to a "neutral" rating and lowered their price target for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and an average price target of $54.31.

Newmont Company 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.