Newmont Co. (NYSE:NEM) Shares Sold by State Street Corp

State Street Corp lowered its stake in Newmont Co. (NYSE:NEM - Free Report) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,821,075 shares of the basic materials company's stock after selling 1,785,283 shares during the period. State Street Corp owned 4.29% of Newmont worth $2,609,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Strategic Financial Concepts LLC purchased a new stake in Newmont during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in shares of Newmont in the 2nd quarter valued at about $27,000. Hoese & Co LLP purchased a new stake in shares of Newmont in the third quarter worth about $27,000. Avior Wealth Management LLC grew its holdings in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock worth $27,000 after acquiring an additional 326 shares during the period. Finally, Prospera Private Wealth LLC purchased a new position in Newmont during the third quarter valued at approximately $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent research reports. Royal Bank of Canada cut their target price on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a report on Thursday, October 24th. CLSA initiated coverage on shares of Newmont in a research report on Friday, November 29th. They issued an "underperform" rating for the company. Bernstein Bank raised their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Scotiabank downgraded Newmont from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Finally, Cibc World Mkts cut Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $54.31.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 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 transaction of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares of the company's stock, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry M. Iv Conger purchased 9,498 shares of the firm's stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.06% of the company's stock.

Newmont Price Performance

NEM traded up $0.02 on Friday, reaching $41.09. 7,748,674 shares of the company's stock were exchanged, compared to its average volume of 10,490,163. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The stock has a market cap of $46.78 billion, a PE ratio of -27.03, a P/E/G ratio of 0.36 and a beta of 0.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock's fifty day moving average price is $47.97 and its 200-day moving average price is $47.37.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share 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 quarter in the prior year, the firm earned $0.36 earnings per share. The company's revenue for the quarter was up 84.7% on a year-over-year basis. Sell-side analysts expect that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

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