ING Groep NV Cuts Stock Position in Newmont Co. (NYSE:NEM)

ING Groep NV decreased its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 25.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 153,508 shares of the basic materials company's stock after selling 52,511 shares during the period. ING Groep NV's holdings in Newmont were worth $8,205,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings 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 in the last quarter. Van ECK Associates Corp lifted its position 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 valued at $2,131,939,000 after acquiring an additional 1,289,084 shares during the last quarter. Legal & General Group Plc boosted its stake in Newmont by 1.4% in the second 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in Newmont by 8.6% in 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 purchasing an additional 545,903 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Newmont by 6.8% during the first 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 in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

Shares of NYSE:NEM traded up $0.25 during trading on Friday, hitting $40.93. 11,733,599 shares of the stock traded hands, compared to its average volume of 10,549,410. 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 company has a fifty day moving average price of $51.11 and a two-hundred day moving average price of $47.35. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The company has a market cap of $46.60 billion, a price-to-earnings ratio of -26.91, a P/E/G ratio of 0.34 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data 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). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the company posted $0.36 EPS. The company's revenue was up 84.7% on a year-over-year basis. As a group, equities analysts predict that Newmont Co. will post 3.15 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders 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 dividend on an annualized basis and a yield of 2.44%. Newmont's dividend payout ratio is currently -65.79%.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the 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 transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business'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 completion of the sale, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock worth $2,444,440 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on NEM shares. Raymond James upped their target price on Newmont from $65.00 to $66.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Argus upgraded 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. Bernstein Bank upped their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. UBS Group downgraded shares of Newmont from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Veritas raised shares of Newmont to a "strong-buy" rating in a report on Monday, September 30th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $54.14.

Newmont 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.