Franklin Resources Inc. Reduces Holdings in Newmont Co. (NYSE:NEM)

Franklin Resources Inc. decreased its stake in Newmont Co. (NYSE:NEM - Free Report) by 5.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,608,555 shares of the basic materials company's stock after selling 95,032 shares during the quarter. Franklin Resources Inc. owned approximately 0.14% of Newmont worth $88,181,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Avior Wealth Management LLC increased its holdings in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Hoese & Co LLP acquired a new stake in shares of Newmont during the 3rd quarter valued at about $27,000. Prospera Private Wealth LLC acquired a new position in Newmont in the 3rd quarter worth about $28,000. Highline Wealth Partners LLC purchased a new position in Newmont during the third quarter worth approximately $32,000. Finally, Meeder Asset Management Inc. acquired a new stake in Newmont in the second quarter valued at approximately $27,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Trading Down 0.3 %

Shares of Newmont stock traded down $0.13 during trading hours on Monday, hitting $40.09. The company's stock had a trading volume of 10,056,219 shares, compared to its average volume of 10,460,128. The firm has a fifty day moving average of $46.50 and a 200-day moving average of $47.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a market cap of $45.63 billion, a price-to-earnings ratio of -26.34, a P/E/G ratio of 0.36 and a beta of 0.49. 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 quarterly 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). The company had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont's revenue was up 84.7% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. Research analysts forecast that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued 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 2.49%. Newmont's dividend payout ratio is presently -65.79%.

Insider Activity at Newmont

In other Newmont news, 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 sale, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. This trade represents a 6.86 % 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, 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 price of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 24th. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They set an "underperform" rating for the company. Argus raised 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. UBS Group lowered Newmont from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Veritas upgraded Newmont to a "strong-buy" rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.