LGT Capital Partners LTD. Trims Position in Newmont Co. (NYSE:NEM)

LGT Capital Partners LTD. trimmed its position in Newmont Co. (NYSE:NEM - Free Report) by 85.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,050 shares of the basic materials company's stock after selling 120,460 shares during the period. LGT Capital Partners LTD.'s holdings in Newmont were worth $1,072,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NEM. W.G. Shaheen & Associates DBA Whitney & Co lifted its stake in Newmont by 0.4% in the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 203,769 shares of the basic materials company's stock valued at $10,891,000 after buying an additional 840 shares in the last quarter. Caprock Group LLC lifted its position in shares of Newmont by 5.5% in the third quarter. Caprock Group LLC now owns 85,006 shares of the basic materials company's stock worth $4,544,000 after purchasing an additional 4,414 shares in the last quarter. Pathstone Holdings LLC increased its position in shares of Newmont by 9.1% in the third quarter. Pathstone Holdings LLC now owns 131,332 shares of the basic materials company's stock valued at $7,020,000 after acquiring an additional 10,967 shares during the last quarter. Meeder Advisory Services Inc. increased its position in shares of Newmont by 25.0% during the 3rd quarter. Meeder Advisory Services Inc. now owns 16,268 shares of the basic materials company's stock worth $870,000 after purchasing an additional 3,256 shares during the last quarter. Finally, Napa Wealth Management bought a new stake in shares of Newmont during the 3rd quarter worth approximately $1,104,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Trading Up 1.9 %

NYSE NEM traded up $0.80 on Tuesday, hitting $43.16. The company's stock had a trading volume of 6,914,463 shares, compared to its average volume of 10,530,866. The company's 50-day simple moving average is $50.94 and its 200 day simple moving average is $47.45. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The firm has a market cap of $49.14 billion, a P/E ratio of -27.86, a PEG ratio of 0.34 and a beta of 0.51. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results 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). The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company's revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. Research analysts predict that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.32%. Newmont's dividend payout ratio is presently -65.79%.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business'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 $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. The trade was 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 valued at $2,444,440 over the last ninety days. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Cibc World Mkts downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Scotiabank downgraded Newmont from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Veritas raised Newmont to a "strong-buy" rating in a research report on Monday, September 30th. BMO Capital Markets boosted their target price on Newmont from $56.00 to $57.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Finally, Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Newmont 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.