Newmont Co. (NYSE:NEM) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 12.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,398 shares of the basic materials company's stock after selling 27,792 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Newmont were worth $10,284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company's stock worth $2,131,939,000 after buying an additional 1,289,084 shares during the period. Legal & General Group Plc increased its holdings in shares of Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company's stock valued at $337,909,000 after purchasing an additional 109,084 shares in the last quarter. FMR LLC increased its holdings in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company's stock valued at $376,953,000 after purchasing an additional 1,226,697 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Newmont by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company's stock valued at $289,445,000 after purchasing an additional 545,903 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Newmont by 29.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company's stock worth $197,976,000 after buying an additional 1,074,623 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on NEM shares. JPMorgan Chase & Co. raised shares of Newmont from a "neutral" rating to an "overweight" rating in a report on Tuesday, November 19th. Royal Bank of Canada cut their price target on Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a research note on Thursday, October 24th. Jefferies Financial Group increased their price target on Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. CLSA began coverage on Newmont in a research report on Friday. They issued an "underperform" rating for the company. Finally, Bernstein Bank increased their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. One equities research 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 stock. Based on data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and an average target price of $54.31.

Newmont Price Performance

NEM traded down $1.03 during trading on Monday, reaching $40.91. The company's stock had a trading volume of 12,521,048 shares, compared to its average volume of 10,511,048. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a market cap of $46.57 billion, a price-to-earnings ratio of -26.90, a PEG ratio of 0.36 and a beta of 0.51. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $49.09 and a two-hundred day simple moving average of $47.49.

Newmont (NYSE:NEM - Get Free Report) last issued its 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). The firm had revenue of $4.61 billion for the quarter, compared to analysts' expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. Newmont's revenue for the quarter was up 84.7% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. As a group, analysts anticipate that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is presently -65.79%.

Insider Transactions at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the purchase, the director now directly owns 14,498 shares of the company's stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase 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 currently owned by company insiders.

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.