Penserra Capital Management LLC Has $881,000 Position in Newmont Co. (NYSE:NEM)

Penserra Capital Management LLC raised its stake in Newmont Co. (NYSE:NEM - Free Report) by 17,084.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,497 shares of the basic materials company's stock after purchasing an additional 16,401 shares during the period. Penserra Capital Management LLC's holdings in Newmont were worth $881,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NEM. Lazard Asset Management LLC increased its holdings in shares of Newmont by 95.7% in the first quarter. Lazard Asset Management LLC now owns 46,788 shares of the basic materials company's stock worth $1,676,000 after purchasing an additional 22,880 shares during the period. Silvercrest Asset Management Group LLC boosted its position in shares of Newmont by 10.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 57,251 shares of the basic materials company's stock valued at $2,052,000 after purchasing an additional 5,563 shares in the last quarter. Janus Henderson Group PLC lifted its position in Newmont by 19.1% during the 1st quarter. Janus Henderson Group PLC now owns 341,907 shares of the basic materials company's stock valued at $12,256,000 after acquiring an additional 54,761 shares during the period. Tidal Investments LLC boosted its holdings in Newmont by 6.1% in the first quarter. Tidal Investments LLC now owns 135,964 shares of the basic materials company's stock worth $4,851,000 after acquiring an additional 7,876 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Newmont during the 1st quarter valued at about $25,000. Institutional investors own 68.85% of the company's stock.

Newmont Stock Up 0.1 %

Shares of NEM traded up $0.04 during midday trading on Thursday, hitting $42.04. The company had a trading volume of 7,045,307 shares, compared to its average volume of 10,520,733. The company's 50 day moving average price is $49.57 and its 200 day moving average price is $47.47. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The stock has a market cap of $47.86 billion, a price-to-earnings ratio of -27.66, a PEG ratio of 0.37 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.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the previous year, the business posted $0.36 earnings per share. The business's quarterly revenue was up 84.7% compared to the same quarter last year. On average, equities research analysts predict that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. Newmont's dividend payout ratio is currently -65.79%.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 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 $1,049,400.00. Following the transaction, the chief executive officer now directly owns 291,469 shares of the company's stock, valued at $15,293,378.43. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock worth $2,444,440 in the last three months. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on NEM shares. Jefferies Financial Group lifted their price objective on Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a report on Friday, October 4th. UBS Group cut shares of Newmont from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. CIBC cut shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. Royal Bank of Canada dropped their price objective on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a research note on Thursday, October 24th. Finally, Cibc World Mkts lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.31.

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.