Newmont Co. (NYSE:NEM) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its holdings in Newmont Co. (NYSE:NEM - Free Report) by 48.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,087 shares of the basic materials company's stock after selling 201,042 shares during the period. Los Angeles Capital Management LLC's holdings in Newmont were worth $11,390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NEM. Vanguard Group Inc. boosted its holdings in shares of Newmont by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company's stock valued at $4,836,262,000 after acquiring an additional 16,190,422 shares in the last quarter. Maj Invest Holding A S raised its position in Newmont by 296.0% during the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company's stock worth $143,502,000 after purchasing an additional 2,561,823 shares during the last quarter. Capital International Investors bought a new position in Newmont during the 1st quarter worth $49,444,000. Van ECK Associates Corp raised its position in shares of Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company's stock worth $2,131,939,000 after acquiring an additional 1,289,084 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Newmont by 262.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company's stock worth $80,960,000 after acquiring an additional 1,096,905 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

NEM has been the subject of several research analyst reports. Royal Bank of Canada lowered their price objective on Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a research report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Argus upgraded 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 lifted their price target on Newmont from $55.00 to $58.00 in a research note on Monday. Finally, Scotiabank downgraded Newmont from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $59.00 to $55.00 in a research note on Friday, October 25th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.14.

Newmont Price Performance

Shares of NEM stock traded down $1.09 on Tuesday, hitting $41.24. 7,540,890 shares of the stock traded hands, compared to its average volume of 10,457,188. 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 market cap of $46.95 billion, a price-to-earnings ratio of -27.31, a PEG ratio of 0.37 and a beta of 0.51. The firm has a 50 day simple moving average of $51.95 and a two-hundred day simple moving average of $47.46. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued 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). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.67 billion. During the same period in the previous year, the business earned $0.36 earnings per share. The business's quarterly revenue was up 84.7% on a year-over-year basis. As a group, equities research analysts predict that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm 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 is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.42%. Newmont's dividend payout ratio is currently -65.79%.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 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 value of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now owns 291,469 shares of the company's stock, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares of the company's stock, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,000 shares of company stock worth $2,444,440. 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.