Metis Global Partners LLC Raises Position in Newmont Co. (NYSE:NEM)

Metis Global Partners LLC increased its holdings in Newmont Co. (NYSE:NEM - Free Report) by 22.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,873 shares of the basic materials company's stock after purchasing an additional 20,876 shares during the quarter. Metis Global Partners LLC's holdings in Newmont were worth $5,980,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company's stock valued at $4,836,262,000 after purchasing an additional 16,190,422 shares in the last quarter. Maj Invest Holding A S grew its holdings in shares of 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 valued at $143,502,000 after purchasing an additional 2,561,823 shares during the last quarter. Capital International Investors bought a new position in shares of Newmont in the first quarter worth approximately $49,444,000. Van ECK Associates Corp raised its position in Newmont by 2.6% during the 2nd 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 purchasing an additional 1,289,084 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Newmont by 262.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company's stock valued at $80,960,000 after buying an additional 1,096,905 shares during the period. Institutional investors own 68.85% of the company's stock.

Newmont Trading Down 1.4 %

NEM traded down $0.56 during mid-day trading on Thursday, reaching $40.67. The stock had a trading volume of 16,484,162 shares, compared to its average volume of 10,541,849. The firm's fifty day simple moving average is $51.52 and its two-hundred day simple moving average is $47.41. The stock has a market capitalization of $46.30 billion, a P/E ratio of -26.76, a P/E/G ratio of 0.34 and a beta of 0.51. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly 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). 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 for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the business earned $0.36 earnings per share. The company's revenue for the quarter was up 84.7% compared to the same quarter last year. On average, 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. Investors of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. Newmont's dividend payout ratio (DPR) is presently -65.79%.

Analyst Ratings Changes

Several brokerages recently weighed in on NEM. Royal Bank of Canada reduced their price target on shares of 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 boosted their price target 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. BMO Capital Markets lifted 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. Veritas raised shares of Newmont to a "strong-buy" rating in a research note on Monday, September 30th. Finally, CIBC lowered shares of Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. Nine research 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 company's stock. According to MarketBeat, Newmont currently has an average rating of "Moderate Buy" and an average target price of $54.14.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares of the company's stock, valued at approximately $4,928,780.76. The trade was a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm'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 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 approximately $15,293,378.43. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. Corporate insiders own 0.06% of the company's stock.

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.