Quest Partners LLC Makes New $1.29 Million Investment in Newmont Co. (NYSE:NEM)

Quest Partners LLC bought a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,104 shares of the basic materials company's stock, valued at approximately $1,288,000.

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

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares of the company's stock, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm's stock in a transaction 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 directly owns 271,469 shares of the company's stock, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. CIBC lowered Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. JPMorgan Chase & Co. raised Newmont from a "neutral" rating to an "overweight" rating in a report on Tuesday. Bernstein Bank upped their target price on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Raymond James increased their price target 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. Finally, BMO Capital Markets lifted their price objective on Newmont from $56.00 to $57.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.14.

Newmont Trading Down 0.5 %

Newmont stock traded down $0.20 during midday trading on Wednesday, reaching $42.99. The stock had a trading volume of 7,874,902 shares, compared to its average volume of 10,536,924. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a market cap of $48.94 billion, a price-to-earnings ratio of -28.39, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The company has a fifty day moving average of $50.78 and a 200 day moving average of $47.47.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $4.61 billion for 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 company's quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 EPS. On average, analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.33%. Newmont's dividend payout ratio (DPR) is presently -65.79%.

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.