Newmont Co. (NYSE:NEM) Position Lifted by Two Sigma Advisers LP

Two Sigma Advisers LP increased its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 99.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 601,276 shares of the basic materials company's stock after acquiring an additional 300,400 shares during the quarter. Two Sigma Advisers LP owned about 0.05% of Newmont worth $32,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stansberry Asset Management LLC increased its stake in Newmont by 16.9% in the third quarter. Stansberry Asset Management LLC now owns 6,428 shares of the basic materials company's stock valued at $344,000 after purchasing an additional 928 shares during the period. Stevens Capital Management LP acquired a new position in Newmont in the third quarter valued at $359,000. Quantinno Capital Management LP increased its stake in Newmont by 9.4% in the third quarter. Quantinno Capital Management LP now owns 126,725 shares of the basic materials company's stock valued at $6,773,000 after purchasing an additional 10,888 shares during the period. Quarry LP acquired a new position in Newmont in the third quarter valued at $161,000. Finally, Royal London Asset Management Ltd. increased its stake in Newmont by 2.7% in the third quarter. Royal London Asset Management Ltd. now owns 475,146 shares of the basic materials company's stock valued at $25,397,000 after purchasing an additional 12,705 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEM has been the topic of a number of recent research reports. Royal Bank of Canada dropped their price objective on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 24th. Cibc World Mkts lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Argus upgraded shares of Newmont from a "hold" rating to a "buy" rating and set a $58.00 price target on the stock in a research note on Thursday, August 29th. Bernstein Bank boosted their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $54.31.

Newmont Trading Up 0.1 %

Shares of NEM traded up $0.04 on Friday, hitting $41.11. 7,751,074 shares of the stock traded hands, compared to its average volume of 10,670,226. 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 has a market capitalization of $46.80 billion, a P/E ratio of -27.05, a P/E/G ratio of 0.36 and a beta of 0.49. The stock's 50 day moving average is $47.72 and its two-hundred day moving average is $47.37. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly 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 company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the company posted $0.36 EPS. The business's revenue for the quarter was up 84.7% on a year-over-year basis. As a group, sell-side analysts predict that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business 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. This represents a $1.00 annualized dividend and a yield of 2.43%. The ex-dividend date is Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is -65.79%.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the transaction, the chief executive officer now owns 271,469 shares of the company's stock, valued at approximately $14,607,746.89. This represents 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, Director Harry M. Iv Conger acquired 9,498 shares of the company's stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now directly owns 14,498 shares of the company's stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.06% of the stock is currently owned by company 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.