Newmont Co. (NYSE:NEM) Stock Holdings Raised by Gemsstock Ltd.

Gemsstock Ltd. boosted its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 52.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 464,300 shares of the basic materials company's stock after purchasing an additional 159,200 shares during the quarter. Newmont comprises approximately 12.0% of Gemsstock Ltd.'s investment portfolio, making the stock its 4th biggest position. Gemsstock Ltd.'s holdings in Newmont were worth $24,817,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blair William & Co. IL increased its stake in Newmont by 4.4% during the 1st quarter. Blair William & Co. IL now owns 31,636 shares of the basic materials company's stock worth $1,134,000 after acquiring an additional 1,339 shares during the period. Osaic Holdings Inc. raised its stake in Newmont by 86.6% in the first quarter. Osaic Holdings Inc. now owns 275,145 shares of the basic materials company's stock valued at $9,864,000 after purchasing an additional 127,684 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Newmont during the first quarter worth about $1,427,000. O Shaughnessy Asset Management LLC increased its holdings in Newmont by 28.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 37,489 shares of the basic materials company's stock valued at $1,344,000 after buying an additional 8,224 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of Newmont by 4.9% during the 1st quarter. Clearbridge Investments LLC now owns 33,494 shares of the basic materials company's stock worth $1,200,000 after acquiring an additional 1,575 shares during the period. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the transaction, the chief executive officer now owns 271,469 shares of the company's stock, valued at $14,607,746.89. This represents a 6.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The shares were 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 $4,963,452.12. The trade was a 3.07 % 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 valued at $2,444,440. 0.06% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Shares of NEM stock traded down $0.28 during trading hours on Wednesday, reaching $42.90. The stock had a trading volume of 3,494,282 shares, compared to its average volume of 10,517,484. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The firm has a market capitalization of $48.84 billion, a PE ratio of -28.39, a PEG ratio of 0.34 and a beta of 0.51. The stock's fifty day simple moving average is $50.78 and its 200 day simple moving average is $47.47.

Newmont (NYSE:NEM - Get Free Report) last announced its 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). The company had revenue of $4.61 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the business earned $0.36 earnings per share. On average, equities research analysts predict that Newmont Co. will post 3.15 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced 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. This represents a $1.00 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's dividend payout ratio is currently -65.79%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NEM. JPMorgan Chase & Co. upgraded Newmont from a "neutral" rating to an "overweight" rating in a research report on Tuesday. BMO Capital Markets boosted their price objective on Newmont from $56.00 to $57.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Veritas raised Newmont to a "strong-buy" rating in a research note on Monday, September 30th. Bernstein Bank upped their price objective on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Raymond James lifted their target price on shares of Newmont from $65.00 to $66.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.