Hanseatic Management Services Inc. Takes $868,000 Position in Newmont Co. (NYSE:NEM)

Hanseatic Management Services Inc. bought a new position in Newmont Co. (NYSE:NEM - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,242 shares of the basic materials company's stock, valued at approximately $868,000.

A number of other institutional investors have also recently added to or reduced their stakes in NEM. Vanguard Group Inc. lifted its position in Newmont by 13.6% in the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company's stock worth $4,836,262,000 after purchasing an additional 16,190,422 shares during the period. Maj Invest Holding A S increased its holdings in shares of Newmont by 296.0% in the second quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company's stock valued at $143,502,000 after buying an additional 2,561,823 shares in the last quarter. Capital International Investors bought a new position in shares of Newmont in the first quarter valued at $49,444,000. Van ECK Associates Corp increased its holdings in shares of Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company's stock valued at $2,131,939,000 after buying an additional 1,289,084 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Newmont by 262.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company's stock valued at $80,960,000 after buying an additional 1,096,905 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Up 1.5 %

Shares of NYSE NEM traded up $0.68 during mid-day trading on Thursday, reaching $45.16. The company had a trading volume of 11,724,806 shares, compared to its average volume of 10,441,122. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a market capitalization of $51.41 billion, a PE ratio of -29.69, a price-to-earnings-growth ratio of 0.38 and a beta of 0.51. The stock's 50 day moving average is $52.49 and its 200-day moving average is $47.30.

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). The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company's revenue was up 84.7% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. As a group, equities analysts anticipate that Newmont Co. will post 3.12 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. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's dividend payout ratio is presently -65.79%.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 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 value of $157,410.00. Following the completion of 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company's 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 owns 94,596 shares of the company's stock, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,000 shares of company stock worth $2,444,440. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on NEM. Argus raised Newmont from a "hold" rating to a "buy" rating and set a $58.00 price target on the stock in a report on Thursday, August 29th. BMO Capital Markets upped their price target on Newmont from $56.00 to $57.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Raymond James boosted their target price on shares of Newmont from $65.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Royal Bank of Canada cut their target price on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 24th. Finally, Scotiabank downgraded shares of Newmont from a "sector outperform" rating to a "sector perform" rating and cut their target price for the company from $59.00 to $55.00 in a research note on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $53.85.

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.