Newmont Co. (NYSE:NEM) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 677,082 shares of the basic materials company's stock after selling 23,324 shares during the quarter. HighTower Advisors LLC owned about 0.06% of Newmont worth $36,162,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NEM. Van ECK Associates Corp increased its stake in Newmont by 2.6% during 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 last quarter. Legal & General Group Plc increased its position in shares of Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company's stock valued at $337,909,000 after purchasing an additional 109,084 shares during the last quarter. FMR LLC raised its holdings in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company's stock valued at $376,953,000 after buying an additional 1,226,697 shares during the period. Dimensional Fund Advisors LP boosted its stake in Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company's stock worth $289,445,000 after buying an additional 545,903 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in Newmont by 29.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company's stock valued at $197,976,000 after acquiring an additional 1,074,623 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on NEM. JPMorgan Chase & Co. raised shares of Newmont from a "neutral" rating to an "overweight" rating in a research note on Tuesday, November 19th. Cibc World Mkts cut Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Jefferies Financial Group raised their price target on Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. Raymond James cut their price objective on Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a research report on Monday, November 25th. Finally, Argus raised shares of Newmont from a "hold" rating to a "buy" rating and set a $58.00 target price for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $54.31.

Newmont Stock Down 0.8 %

NYSE NEM traded down $0.34 during midday trading on Thursday, hitting $41.07. 10,965,139 shares of the company traded hands, compared to its average volume of 10,501,815. The company has a market cap of $46.76 billion, a PE ratio of -27.02, a price-to-earnings-growth ratio of 0.36 and a beta of 0.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company's 50-day simple moving average is $47.97 and its 200-day simple moving average is $47.37.

Newmont (NYSE:NEM - Get Free Report) last posted its 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). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.67 billion. During the same quarter last year, the firm earned $0.36 EPS. Newmont's revenue for the quarter was up 84.7% on a year-over-year basis. As a group, equities research analysts forecast that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.43%. Newmont's payout ratio is -65.79%.

Insider Buying and Selling at Newmont

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 shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares of the company's stock, valued at $4,928,780.76. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

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.