Principal Financial Group Inc. Has $72.42 Million Holdings in Newmont Co. (NYSE:NEM)

Principal Financial Group Inc. lessened its stake in Newmont Co. (NYSE:NEM - Free Report) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,354,841 shares of the basic materials company's stock after selling 74,378 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Newmont worth $72,416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hoese & Co LLP acquired a new position in shares of Newmont in the third quarter worth $27,000. Highline Wealth Partners LLC acquired a new position in Newmont in the 3rd quarter worth about $32,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont during the 2nd quarter worth about $27,000. LRI Investments LLC acquired a new stake in shares of Newmont during the 1st quarter valued at about $25,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Newmont in the 3rd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

Newmont stock traded down $0.12 during mid-day trading on Friday, reaching $45.04. The company had a trading volume of 10,453,600 shares, compared to its average volume of 12,068,714. The company has a 50 day moving average of $52.17 and a 200-day moving average of $47.40. Newmont Co. has a 52 week low of $29.42 and a 52 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.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates 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%. The firm's quarterly revenue was up 84.7% compared to the same quarter last year. During the same period last year, the business earned $0.36 earnings per share. As a group, equities research analysts predict that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. Newmont's payout ratio is -65.79%.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares of the company's stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares of the company's stock, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock valued at $2,444,440 over the last ninety days. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

NEM has been the topic of several recent research reports. Raymond James raised their price objective on shares of Newmont from $65.00 to $66.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Scotiabank downgraded shares of Newmont from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $59.00 to $55.00 in a report on Friday, October 25th. Royal Bank of Canada decreased their price objective on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a report on Thursday, October 24th. 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. Finally, Jefferies Financial Group upped their price target on Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.85.

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.