Newmont Co. (NYSE:NEM) Stock Position Cut by Hourglass Capital LLC

Hourglass Capital LLC decreased its position in Newmont Co. (NYSE:NEM - Free Report) by 30.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,405 shares of the basic materials company's stock after selling 79,935 shares during the period. Newmont makes up approximately 2.7% of Hourglass Capital LLC's holdings, making the stock its 3rd biggest position. Hourglass Capital LLC's holdings in Newmont were worth $9,589,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Newmont by 13.6% in the 1st 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 in the last quarter. Van ECK Associates Corp lifted its stake in Newmont by 2.6% during the 2nd 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 acquiring an additional 1,289,084 shares during the period. Legal & General Group Plc lifted its stake in 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 acquiring an additional 109,084 shares during the period. Dimensional Fund Advisors LP lifted its stake in Newmont by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company's stock valued at $289,445,000 after acquiring an additional 545,903 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Newmont by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company's stock worth $175,872,000 after purchasing an additional 313,736 shares during the period. Institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 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 $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 approximately $14,607,746.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is currently owned by insiders.

Newmont Price Performance

Shares of NEM stock traded down $0.47 on Thursday, reaching $40.76. The company's stock had a trading volume of 7,942,507 shares, compared to its average volume of 10,505,408. The stock's fifty day simple moving average is $51.52 and its 200-day simple 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. The company has a market capitalization of $46.40 billion, a price-to-earnings ratio of -27.12, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51.

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 analysts' consensus estimates 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 positive return on equity of 9.80% and a negative net margin of 7.03%. The firm's quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. Analysts forecast that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. Newmont's dividend payout ratio (DPR) is -65.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. CIBC cut shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research note on Monday, October 28th. Raymond James increased their target price on shares of Newmont from $65.00 to $66.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. UBS Group lowered shares of Newmont from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Bernstein Bank increased their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday. Finally, Royal Bank of Canada reduced their target price on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $54.14.

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.