Advisors Asset Management Inc. Sells 59,729 Shares of Newmont Co. (NYSE:NEM)

Advisors Asset Management Inc. lowered its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 50.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,655 shares of the basic materials company's stock after selling 59,729 shares during the quarter. Advisors Asset Management Inc.'s holdings in Newmont were worth $3,135,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NEM. LRI Investments LLC bought a new position in shares of Newmont in the first quarter valued at $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont during the second quarter worth $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont during the second quarter valued at $27,000. Hoese & Co LLP acquired a new position in shares of Newmont in the 3rd quarter valued at $27,000. Finally, Avior Wealth Management LLC increased its stake in Newmont by 191.8% in 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. Institutional investors own 68.85% of the company's stock.

Newmont Stock Up 0.1 %

NEM opened at $43.38 on Friday. The company has a market capitalization of $49.39 billion, a PE ratio of -28.54, a price-to-earnings-growth ratio of 0.37 and a beta of 0.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The business has a 50-day moving average of $50.23 and a 200-day moving average of $47.47.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the firm earned $0.36 earnings per share. Newmont's revenue was up 84.7% compared to the same quarter last year. Equities research analysts forecast that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders 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 2.31%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's payout ratio is -65.79%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NEM. JPMorgan Chase & Co. upgraded Newmont from a "neutral" rating to an "overweight" rating in a report on Tuesday, November 19th. UBS Group lowered shares of Newmont from a "buy" rating to a "neutral" rating and cut their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Veritas raised shares of Newmont to a "strong-buy" rating in a research note on Monday, September 30th. Bernstein Bank lifted their price objective on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, Raymond James increased their target price on Newmont from $65.00 to $66.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Newmont has a consensus rating of "Moderate Buy" and an average price target of $54.85.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the sale, the chief executive officer now owns 271,469 shares of the company's stock, valued at $14,607,746.89. The trade was a 6.86 % 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 worth $2,444,440 over the last three months. Corporate insiders own 0.06% of the company's stock.

Newmont 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.