18,200 Shares in Newmont Co. (NYSE:NEM) Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd bought a new stake in Newmont Co. (NYSE:NEM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 18,200 shares of the basic materials company's stock, valued at approximately $973,000.

Other large investors have also modified their holdings of the company. Avior Wealth Management LLC lifted its position in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock worth $27,000 after purchasing an additional 326 shares during the last quarter. Hoese & Co LLP bought a new position in shares of Newmont during the third quarter worth about $27,000. Prospera Private Wealth LLC bought a new position in shares of Newmont during the third quarter worth about $28,000. Highline Wealth Partners LLC bought a new position in shares of Newmont during the third quarter worth about $32,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Newmont during the second quarter worth about $27,000. Institutional investors own 68.85% of the company's stock.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $4,963,452.12. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 271,469 shares of the company's stock, valued at $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. Corporate insiders own 0.06% of the company's stock.

Newmont Price Performance

Shares of NYSE NEM traded down $1.17 during mid-day trading on Monday, reaching $40.77. 4,869,542 shares of the company traded hands, compared to its average volume of 10,476,521. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. 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 firm has a market cap of $46.41 billion, a PE ratio of -27.59, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51. The stock has a fifty day simple moving average of $49.09 and a 200-day simple moving average of $47.49.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the business earned $0.36 EPS. Newmont's revenue was up 84.7% compared to the same quarter last year. Equities research analysts anticipate that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Wednesday, November 27th. Newmont's payout ratio is -65.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NEM. CLSA began coverage on shares of Newmont in a report on Friday. They issued an "underperform" rating on the stock. Cibc World Mkts cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Monday, October 28th. 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 report on Thursday, August 29th. CIBC cut shares of Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. Finally, Raymond James cut their target price on shares of Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.