AIA Group Ltd Cuts Position in Newmont Co. (NYSE:NEM)

AIA Group Ltd cut its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 37.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,924 shares of the basic materials company's stock after selling 12,649 shares during the period. AIA Group Ltd's holdings in Newmont were worth $1,118,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Empirical Finance LLC grew its stake in shares of Newmont by 5.3% during the 1st quarter. Empirical Finance LLC now owns 29,901 shares of the basic materials company's stock worth $1,072,000 after purchasing an additional 1,506 shares during the period. Empowered Funds LLC boosted its stake in Newmont by 102.9% in the 1st quarter. Empowered Funds LLC now owns 25,453 shares of the basic materials company's stock worth $912,000 after buying an additional 12,908 shares during the last quarter. Forsta AP Fonden increased its position in shares of Newmont by 9.6% in the first quarter. Forsta AP Fonden now owns 252,100 shares of the basic materials company's stock worth $9,035,000 after acquiring an additional 22,100 shares in the last quarter. Significant Wealth Partners LLC grew its holdings in Newmont by 218.7% during the 1st quarter. Significant Wealth Partners LLC now owns 89,560 shares of the basic materials company's stock worth $3,210,000 after acquiring an additional 61,462 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new stake in Newmont in the 1st quarter valued at about $316,000. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on NEM shares. Veritas upgraded Newmont to a "strong-buy" rating in a research report on Monday, September 30th. Jefferies Financial Group boosted their price target on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research note on Friday, October 4th. 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 report on Thursday, August 29th. BMO Capital Markets raised their price objective on Newmont from $56.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Finally, UBS Group cut shares of Newmont from a "buy" rating to a "neutral" rating and dropped their target price for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.85.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 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 transaction of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares of the company's stock, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares of the company's stock, valued at $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm's 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 $14,607,746.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock valued at $2,444,440 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Performance

Shares of NEM traded down $0.12 on Friday, reaching $45.04. 10,453,600 shares of the company's stock traded hands, compared to its average volume of 11,803,636. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The stock's 50 day simple moving average is $52.17 and its two-hundred day simple moving average is $47.34. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market cap of $51.28 billion, a PE ratio of -29.63, a PEG ratio of 0.37 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results 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 negative net margin of 7.03% and a positive return on equity of 9.80%. 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 previous year, the company posted $0.36 earnings per share. Newmont's quarterly revenue was up 84.7% on a year-over-year basis. On average, analysts forecast that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders 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 dividend on an annualized basis and a yield of 2.22%. Newmont's dividend payout ratio is presently -65.79%.

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.