Newmont Co. (NYSE:NEM) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC lowered its position in Newmont Co. (NYSE:NEM - Free Report) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 612,587 shares of the basic materials company's stock after selling 93,447 shares during the quarter. Capital Investment Advisors LLC owned about 0.05% of Newmont worth $32,743,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Hoese & Co LLP purchased a new position in Newmont in the 3rd quarter worth about $27,000. Meeder Asset Management Inc. purchased a new position in Newmont in the 2nd quarter worth about $27,000. LRI Investments LLC purchased a new position in Newmont in the 1st quarter worth about $25,000. Heritage Wealth Advisors increased its stake in Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company's stock worth $34,000 after buying an additional 878 shares during the period. Finally, Crewe Advisors LLC purchased a new position in Newmont in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Up 2.0 %

Shares of NYSE:NEM traded up $1.12 during trading on Friday, reaching $57.62. The stock had a trading volume of 7,849,299 shares, compared to its average volume of 10,163,751. The firm's 50-day simple moving average is $52.88 and its 200 day simple moving average is $46.33. The company has a market capitalization of $66.44 billion, a P/E ratio of -21.58, a PEG ratio of 0.43 and a beta of 0.50. 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 Co. has a one year low of $29.42 and a one year high of $57.96.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were paid 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 presently -37.45%.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock worth $3,434,640 in the last three months. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent analyst reports. Bank of America raised their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, June 26th. Argus raised shares of Newmont from a "hold" rating to a "buy" rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. CIBC raised shares of Newmont from a "neutral" rating to a "sector outperform" rating and raised their target price for the company from $46.00 to $61.00 in a research report on Wednesday, July 10th. Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Finally, BMO Capital Markets raised their target price on shares of Newmont from $56.00 to $57.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company 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.