Groupama Asset Managment Acquires 30,170 Shares of Newmont Co. (NYSE:NEM)

Groupama Asset Managment increased its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 45.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,873 shares of the basic materials company's stock after purchasing an additional 30,170 shares during the quarter. Groupama Asset Managment's holdings in Newmont were worth $5,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC acquired a new position in shares of Newmont during the second quarter worth about $25,000. Meeder Asset Management Inc. acquired a new position in Newmont during the 2nd quarter worth approximately $27,000. Hoese & Co LLP purchased a new position in Newmont in the 3rd quarter worth approximately $27,000. Avior Wealth Management LLC raised its stake 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 valued at $27,000 after purchasing an additional 326 shares during the period. Finally, Prospera Private Wealth LLC acquired a new position in shares of Newmont during the third quarter worth $28,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Up 2.1 %

Shares of NYSE NEM traded up $0.86 during trading hours on Monday, hitting $41.97. The company had a trading volume of 5,558,939 shares, compared to its average volume of 10,468,780. The firm's 50 day moving average is $47.72 and its 200-day moving average is $47.41. Newmont Co. has a 1-year low of $29.42 and a 1-year 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.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion during 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 last year, the firm posted $0.36 earnings per share. Analysts predict that Newmont Co. will post 3.08 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 issued a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. Newmont's payout ratio is presently -65.79%.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 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 $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm's 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 completion of the sale, the chief executive officer now owns 271,469 shares of the company's stock, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NEM. Veritas upgraded Newmont to a "strong-buy" rating in a research note on Monday, September 30th. CLSA initiated coverage on shares of Newmont in a research report on Friday, November 29th. They set an "underperform" rating on the stock. JPMorgan Chase & Co. upgraded shares of Newmont from a "neutral" rating to an "overweight" rating in a report on Tuesday, November 19th. Scotiabank cut Newmont from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Finally, Argus raised Newmont from a "hold" rating to a "buy" rating and set a $58.00 price target for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.31.

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.