Newmont Co. (NYSE:NEM) Stake Lowered by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC trimmed its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 672,759 shares of the basic materials company's stock after selling 18,155 shares during the period. Newmont accounts for about 4.7% of Minneapolis Portfolio Management Group LLC's holdings, making the stock its 7th biggest holding. Minneapolis Portfolio Management Group LLC owned approximately 0.06% of Newmont worth $35,959,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. GFS Advisors LLC purchased a new position in Newmont in the 3rd quarter worth approximately $203,000. Allen Wealth Management LLC purchased a new position in shares of Newmont in the third quarter valued at $243,000. Lmcg Investments LLC grew its holdings in Newmont by 8.0% during the 3rd quarter. Lmcg Investments LLC now owns 202,512 shares of the basic materials company's stock valued at $10,824,000 after purchasing an additional 15,049 shares in the last quarter. Palliser Capital UK Ltd increased its stake in Newmont by 3.9% during the 3rd quarter. Palliser Capital UK Ltd now owns 107,101 shares of the basic materials company's stock worth $5,725,000 after buying an additional 4,001 shares during the period. Finally, Affinity Investment Advisors LLC acquired a new position in Newmont in the 3rd quarter worth $1,371,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Newmont stock traded down $0.18 during midday trading on Friday, hitting $45.26. The company's stock had a trading volume of 11,048,999 shares, compared to its average volume of 10,748,931. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. 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 stock's 50-day moving average price is $52.91 and its 200-day moving average price is $47.22. The company has a market capitalization of $51.53 billion, a PE ratio of -29.78, a price-to-earnings-growth ratio of 0.38 and a beta of 0.52.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm's revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. Analysts anticipate that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Wednesday, November 27th. Newmont's payout ratio is -65.79%.

Analyst Upgrades and Downgrades

NEM has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on Newmont from $56.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Raymond James increased their target price on shares of Newmont from $65.00 to $66.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. JPMorgan Chase & Co. lowered shares of Newmont from an "overweight" rating to a "neutral" rating in a research report on Monday, July 8th. Argus upgraded shares of Newmont from a "hold" rating to a "buy" rating and set a $58.00 price target on the stock in a research note on Thursday, August 29th. Finally, Veritas raised Newmont to a "strong-buy" rating in a report on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and a consensus target price of $53.85.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company's stock, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company's stock, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock valued at $2,444,440 over the last three months. Company insiders own 0.06% of the company's stock.

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.