Royal London Asset Management Ltd. Increases Stock Holdings in Newmont Co. (NYSE:NEM)

Royal London Asset Management Ltd. raised its position in Newmont Co. (NYSE:NEM - Free Report) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 475,146 shares of the basic materials company's stock after buying an additional 12,705 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Newmont were worth $25,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new position in Newmont in the second quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont in the 2nd quarter valued at approximately $27,000. Hoese & Co LLP bought a new stake in shares of Newmont during the 3rd quarter valued at approximately $27,000. Avior Wealth Management LLC increased its position in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock worth $27,000 after purchasing an additional 326 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Newmont in the 3rd quarter valued at approximately $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 0.1 %

Newmont stock traded up $0.04 during trading hours on Friday, reaching $41.11. 7,751,074 shares of the company's stock were exchanged, compared to its average volume of 10,670,226. The firm has a market capitalization of $46.80 billion, a PE ratio of -27.05, a PEG ratio of 0.36 and a beta of 0.49. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm's 50 day simple moving average is $47.97 and its 200 day simple moving average is $47.37. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $4.67 billion. During the same period in the prior year, the business earned $0.36 EPS. The company's revenue for the quarter was up 84.7% on a year-over-year basis. Research analysts predict that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced 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 of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.43%. Newmont's payout ratio is presently -65.79%.

Insider Buying and Selling

In other news, Director Harry M. Iv Conger acquired 9,498 shares of the firm's stock in a transaction dated 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 acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. The trade was a 189.96 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the 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 transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. Bernstein Bank boosted their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Scotiabank lowered Newmont from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Royal Bank of Canada dropped their target price 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. CIBC cut Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. Finally, Veritas upgraded shares of Newmont to a "strong-buy" rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $54.31.

Newmont Company Profile

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.