Northwest & Ethical Investments L.P. Trims Stock Holdings in Newmont Co. (NYSE:NEM)

Northwest & Ethical Investments L.P. cut its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 175,203 shares of the basic materials company's stock after selling 12,601 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Newmont were worth $9,365,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NEM. LRI Investments LLC purchased a new position in shares of Newmont during the first quarter valued at approximately $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Newmont during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont during the second quarter valued at approximately $27,000. Hoese & Co LLP bought a new stake in shares of Newmont during the third quarter valued at approximately $27,000. Finally, Avior Wealth Management LLC boosted its position in shares of Newmont by 191.8% during the third 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. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Down 0.2 %

Shares of NEM stock traded down $0.08 during mid-day trading on Friday, hitting $41.96. The company's stock had a trading volume of 6,192,863 shares, compared to its average volume of 10,502,084. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The business has a 50-day moving average price of $49.09 and a 200 day moving average price of $47.42. 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 $47.77 billion, a price-to-earnings ratio of -27.61, a PEG ratio of 0.36 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly 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 business had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.67 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The firm's revenue for the quarter was up 84.7% compared to the same quarter last year. Research analysts predict that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is presently -65.79%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Argus upgraded Newmont from a "hold" rating to a "buy" rating and set a $58.00 price target on the stock in a research report on Thursday, August 29th. Royal Bank of Canada dropped their price target 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. Bernstein Bank lifted their price target on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. UBS Group downgraded Newmont from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised Newmont from a "neutral" rating to an "overweight" rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.31.

Insider Activity at Newmont

In other Newmont 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 value of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares of the company's stock, valued at approximately $15,293,378.43. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by 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.