KBC Group NV Sells 97,547 Shares of Newmont Co. (NYSE:NEM)

KBC Group NV cut its position in Newmont Co. (NYSE:NEM - Free Report) by 24.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 298,264 shares of the basic materials company's stock after selling 97,547 shares during the period. KBC Group NV's holdings in Newmont were worth $15,943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. Hoese & Co LLP acquired a new position in Newmont during the third quarter worth $27,000. Highline Wealth Partners LLC acquired a new position in Newmont in the 3rd quarter valued at $32,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont in the second quarter valued at approximately $27,000. LRI Investments LLC bought a new stake in shares of Newmont during the 1st quarter worth $25,000. Finally, Northwest Investment Counselors LLC bought a new stake in Newmont during the 3rd quarter worth $48,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company'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 $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares of the company's stock, valued at $15,293,378.43. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is owned by insiders.

Newmont Trading Up 0.6 %

Shares of NYSE:NEM traded up $0.25 during mid-day trading on Friday, reaching $40.93. 11,733,599 shares of the company were exchanged, compared to its average volume of 10,549,410. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm's 50-day simple moving average is $51.11 and its 200 day simple moving average is $47.35. The firm 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. 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 (NYSE:NEM - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business's quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 earnings per share. Equities research analysts forecast that Newmont Co. will post 3.15 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.44%. Newmont's dividend payout ratio is presently -65.79%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NEM. Cibc World Mkts cut Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Veritas upgraded Newmont to a "strong-buy" rating in a research report on Monday, September 30th. Jefferies Financial Group lifted 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. Finally, UBS Group lowered Newmont from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.14.

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.