Newmont Co. (NYSE:NEM) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its holdings in Newmont Co. (NYSE:NEM - Free Report) by 662.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,563 shares of the basic materials company's stock after purchasing an additional 14,391 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Newmont were worth $885,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Maj Invest Holding A S raised its position 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 worth $143,502,000 after acquiring an additional 2,561,823 shares during the period. Van ECK Associates Corp raised its position 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 worth $2,131,939,000 after acquiring an additional 1,289,084 shares during the period. Assenagon Asset Management S.A. raised its position 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 worth $80,960,000 after acquiring an additional 1,096,905 shares during the period. National Bank of Canada FI raised its position in shares of Newmont by 47.7% during the 2nd quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company's stock worth $140,460,000 after purchasing an additional 1,088,742 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Newmont by 29.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company's stock worth $197,976,000 after purchasing an additional 1,074,623 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 271,469 shares of the company's stock, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares of the company's stock, valued at $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 quarter, insiders sold 46,000 shares of company stock valued at $2,444,440. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NEM. Veritas upgraded shares of Newmont to a "strong-buy" rating in a research report on Monday, September 30th. Jefferies Financial Group upped their price target on shares of Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. CIBC downgraded shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. JPMorgan Chase & Co. upgraded shares of Newmont from a "neutral" rating to an "overweight" rating in a research report on Tuesday, November 19th. Finally, Cibc World Mkts downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $54.31.

Newmont Trading Down 0.5 %

Shares of Newmont stock traded down $0.22 during mid-day trading on Tuesday, hitting $42.25. The stock had a trading volume of 6,381,067 shares, compared to its average volume of 10,535,874. The firm has a 50-day moving average of $49.80 and a two-hundred day moving average of $47.50. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. 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 $48.09 billion, a P/E ratio of -27.79, a price-to-earnings-growth ratio of 0.38 and a beta of 0.51.

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 the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.67 billion. During the same period last year, the company earned $0.36 EPS. The business's quarterly revenue was up 84.7% on a year-over-year basis. Sell-side analysts forecast that Newmont Co. will post 3.09 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders 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 annualized dividend and a dividend yield of 2.37%. Newmont's dividend payout ratio (DPR) is -65.79%.

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.