Newmont Co. (NYSE:NEM) Position Reduced by Inspire Advisors LLC

Inspire Advisors LLC lowered its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 33.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,788 shares of the basic materials company's stock after selling 11,146 shares during the period. Inspire Advisors LLC's holdings in Newmont were worth $1,165,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NEM. LRI Investments LLC acquired a new stake in Newmont in the first quarter valued at $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in Newmont during the second quarter worth approximately $27,000. Hoese & Co LLP acquired a new position in Newmont in the third quarter valued at approximately $27,000. Finally, Heritage Wealth Advisors increased its stake in Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 878 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their position. The sale 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 dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company's stock, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,000 shares of company stock worth $3,434,640. Corporate insiders own 0.06% of the company's stock.

Newmont Stock Performance

Shares of NYSE:NEM traded up $1.12 during midday trading on Friday, hitting $57.62. The stock had a trading volume of 7,703,731 shares, compared to its average volume of 10,163,751. The company has a market capitalization of $66.44 billion, a PE ratio of -21.58, a P/E/G ratio of 0.43 and a beta of 0.50. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $57.96. The stock has a 50 day moving average price of $52.88 and a two-hundred day moving average price of $46.26. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.13 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm's quarterly revenue was up 64.1% on a year-over-year basis. As a group, equities analysts predict that Newmont Co. will post 3.1 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, September 5th. Newmont's dividend payout ratio (DPR) is currently -37.45%.

Analyst Ratings Changes

Several research analysts have recently issued reports on NEM shares. Veritas upgraded shares of Newmont to a "strong-buy" rating in a report on Monday, September 30th. BMO Capital Markets raised their price objective on Newmont from $56.00 to $57.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. JPMorgan Chase & Co. downgraded Newmont from an "overweight" rating to a "neutral" rating in a report on Monday, July 8th. Jefferies Financial Group upped their target price on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Finally, UBS Group lifted their price target on Newmont from $65.00 to $67.00 and gave the stock a "buy" rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $53.46.

About Newmont

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.