Point72 Asia Singapore Pte. Ltd. Increases Stock Position in Newmont Co. (NYSE:NEM)

Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 890.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,559 shares of the basic materials company's stock after purchasing an additional 19,382 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Newmont were worth $1,152,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Maj Invest Holding A S grew its stake in shares of Newmont by 296.0% during the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company's stock worth $143,502,000 after acquiring an additional 2,561,823 shares in the last quarter. Van ECK Associates Corp increased its stake in Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company's stock valued at $2,131,939,000 after buying an additional 1,289,084 shares during the last quarter. FMR LLC lifted its position in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company's stock worth $376,953,000 after buying an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Newmont by 262.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company's stock worth $80,960,000 after buying an additional 1,096,905 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Newmont by 47.7% in the 2nd quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company's stock valued at $140,460,000 after acquiring an additional 1,088,742 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Down 3.0 %

Shares of NYSE:NEM traded down $1.24 during mid-day trading on Monday, hitting $40.70. The company had a trading volume of 6,094,839 shares, compared to its average volume of 10,481,297. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company has a market capitalization of $46.33 billion, a PE ratio of -27.59, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51. The firm has a fifty day moving average price of $49.09 and a 200 day moving average price of $47.49. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's payout ratio is currently -65.79%.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group cut Newmont from a "buy" rating to a "neutral" rating and reduced their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised Newmont from a "neutral" rating to an "overweight" rating in a report on Tuesday, November 19th. CIBC lowered shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. Bernstein Bank boosted their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, CLSA initiated coverage on shares of Newmont in a report on Friday. They issued an "underperform" rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.31.

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.