Sumitomo Mitsui Trust Group Inc. Sells 66,978 Shares of Newmont Co. (NYSE:NEM)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,068,702 shares of the basic materials company's stock after selling 66,978 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of Newmont worth $164,022,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Empowered Funds LLC grew its position in shares of Newmont by 102.9% in the first quarter. Empowered Funds LLC now owns 25,453 shares of the basic materials company's stock valued at $912,000 after purchasing an additional 12,908 shares during the last quarter. Atomi Financial Group Inc. bought a new position in Newmont in the 1st quarter worth approximately $316,000. Sei Investments Co. lifted its holdings in shares of Newmont by 67.5% during the first quarter. Sei Investments Co. now owns 203,859 shares of the basic materials company's stock worth $7,307,000 after buying an additional 82,165 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Newmont by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company's stock worth $271,000 after buying an additional 278 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of Newmont by 12.0% in the first quarter. US Bancorp DE now owns 138,203 shares of the basic materials company's stock valued at $4,953,000 after acquiring an additional 14,857 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NEM shares. Scotiabank downgraded shares of Newmont from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the company from $59.00 to $55.00 in a report on Friday, October 25th. Jefferies Financial Group increased their target price on shares of Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Veritas upgraded Newmont to a "strong-buy" rating in a research note on Monday, September 30th. Raymond James raised their price objective on Newmont from $65.00 to $66.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Finally, CIBC cut Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and an average target price of $54.14.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares of the company's stock, valued at approximately $4,928,780.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares of the company's stock, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by company insiders.

Newmont Trading Down 0.8 %

NEM traded down $0.35 during mid-day trading on Wednesday, reaching $41.23. 15,153,387 shares of the company traded hands, compared to its average volume of 10,516,973. The company's fifty day moving average price is $51.73 and its 200-day moving average price is $47.45. 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 52-week low of $29.42 and a 52-week high of $58.72.

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 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 during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the company posted $0.36 EPS. The firm's revenue was up 84.7% compared to the same quarter last year. On average, analysts predict that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date 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 currently -65.79%.

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.