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

Prime Capital Investment Advisors LLC lowered its position in Newmont Co. (NYSE:NEM - Free Report) by 40.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,500 shares of the basic materials company's stock after selling 14,070 shares during the period. Prime Capital Investment Advisors LLC's holdings in Newmont were worth $1,096,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NEM. LRI Investments LLC acquired a new position in Newmont during the first quarter worth $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Newmont during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. purchased a new position in Newmont in the 2nd quarter valued at about $27,000. Hoese & Co LLP acquired a new stake in Newmont in the 3rd quarter worth about $27,000. Finally, Highline Wealth Partners LLC purchased a new stake in Newmont during the 3rd quarter worth approximately $32,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NEM. CIBC cut Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. Raymond James raised their price target on shares of Newmont from $65.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Veritas raised shares of Newmont to a "strong-buy" rating in a research note on Monday, September 30th. Cibc World Mkts lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Finally, Argus upgraded 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. Nine research 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $54.14.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the company's 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 directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont 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 completion of the transaction, the chief executive officer now owns 271,469 shares of the company's stock, valued at $14,607,746.89. This represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock worth $2,444,440 in the last ninety days. 0.06% of the stock is owned by corporate insiders.

Newmont Trading Up 0.6 %

NYSE NEM traded up $0.23 on Friday, reaching $40.91. The stock had a trading volume of 11,730,238 shares, compared to its average volume of 10,549,410. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The stock has a fifty day moving average price of $51.30 and a two-hundred day moving average price of $47.36. The firm has a market capitalization of $46.57 billion, a price-to-earnings ratio of -26.72, a P/E/G ratio of 0.34 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 the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. Newmont's revenue was up 84.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. As a group, sell-side analysts forecast that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed 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 2.44%. The ex-dividend date is Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is currently -65.79%.

Newmont Company 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.