Janus Henderson Group PLC Sells 32,523 Shares of Newmont Co. (NYSE:NEM)

Janus Henderson Group PLC lowered its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 5.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 537,444 shares of the basic materials company's stock after selling 32,523 shares during the period. Janus Henderson Group PLC's holdings in Newmont were worth $28,727,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Hilltop Holdings Inc. acquired a new stake in shares of Newmont during the 3rd quarter worth approximately $407,000. Chevy Chase Trust Holdings LLC boosted its stake in Newmont by 5.5% during the third quarter. Chevy Chase Trust Holdings LLC now owns 782,457 shares of the basic materials company's stock worth $41,822,000 after acquiring an additional 40,648 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Newmont by 890.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 21,559 shares of the basic materials company's stock worth $1,152,000 after purchasing an additional 19,382 shares during the period. Point72 Hong Kong Ltd bought a new stake in Newmont in the third quarter valued at $973,000. Finally, B&L Asset Management LLC acquired a new position in shares of Newmont during the third quarter valued at about $325,000. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on NEM shares. Veritas upgraded Newmont to a "strong-buy" rating in a research note on Monday, September 30th. Raymond James reduced their price objective on Newmont from $62.00 to $59.00 and set an "outperform" rating for the company in a research note on Monday, November 25th. Argus raised Newmont from a "hold" rating to a "buy" rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised shares of Newmont from a "neutral" rating to an "overweight" rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada lowered their price objective on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have given 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 Stock Performance

Shares of NYSE NEM traded up $0.04 during midday trading on Friday, reaching $41.11. The company's stock had a trading volume of 7,751,074 shares, compared to its average volume of 10,670,226. The stock has a market capitalization of $46.80 billion, a P/E ratio of -27.05, a PEG 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. The firm has a 50 day moving average price of $47.72 and a 200-day moving average price of $47.37. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion for 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%. During the same quarter last year, the business posted $0.36 earnings per share. The business's revenue was up 84.7% compared to the same quarter last year. As a group, equities analysts predict that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business 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 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 dividend payout ratio (DPR) is presently -65.79%.

Insider Buying and Selling

In other Newmont 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 value of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares of the company's stock, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry M. Iv Conger bought 9,498 shares of the stock in a transaction on Wednesday, November 27th. The stock was purchased at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares of the company's stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.06% of the stock is currently owned by corporate insiders.

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.