Quantbot Technologies LP Makes New $3.48 Million Investment in Newmont Co. (NYSE:NEM)

Quantbot Technologies LP acquired a new position in Newmont Co. (NYSE:NEM - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 65,119 shares of the basic materials company's stock, valued at approximately $3,481,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NEM. Van ECK Associates Corp raised its holdings in Newmont by 2.6% during the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company's stock worth $2,131,939,000 after purchasing an additional 1,289,084 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company's stock worth $337,909,000 after buying an additional 109,084 shares during the last quarter. FMR LLC boosted its position in shares of Newmont by 21.1% in 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. Dimensional Fund Advisors LP grew its stake in Newmont by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company's stock valued at $289,445,000 after acquiring an additional 545,903 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Newmont by 29.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company's stock valued at $197,976,000 after acquiring an additional 1,074,623 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction on 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 sale, the chief executive officer now owns 291,469 shares of the company's stock, valued at approximately $15,293,378.43. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction 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 completion of the sale, the executive vice president now directly owns 91,596 shares of the company's stock, valued at approximately $4,928,780.76. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 over the last quarter. 0.06% of the stock is owned by company insiders.

Newmont Trading Up 0.1 %

NEM traded up $0.04 during mid-day trading on Thursday, hitting $42.04. The stock had a trading volume of 7,045,307 shares, compared to its average volume of 10,520,733. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The stock's fifty day simple moving average is $49.35 and its 200-day simple moving average is $47.43. The firm has a market capitalization of $47.86 billion, a price-to-earnings ratio of -27.66, a price-to-earnings-growth ratio of 0.37 and a beta of 0.51. 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 business 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 firm's revenue for the quarter was up 84.7% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. As a group, research analysts forecast that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is presently -65.79%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NEM. Cibc World Mkts lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. JPMorgan Chase & Co. upgraded shares of Newmont from a "neutral" rating to an "overweight" rating in a report on Tuesday, November 19th. Jefferies Financial Group boosted their price target on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a report on Friday, October 4th. Bernstein Bank upped their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Scotiabank cut Newmont from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the company from $59.00 to $55.00 in a report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.