Stifel Financial Corp Sells 19,509 Shares of Newmont Co. (NYSE:NEM)

Stifel Financial Corp lowered its position in Newmont Co. (NYSE:NEM - Free Report) by 3.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 546,751 shares of the basic materials company's stock after selling 19,509 shares during the quarter. Stifel Financial Corp's holdings in Newmont were worth $29,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its position in Newmont by 9.4% in the third quarter. Quantinno Capital Management LP now owns 126,725 shares of the basic materials company's stock valued at $6,773,000 after purchasing an additional 10,888 shares during the period. Quarry LP purchased a new position in Newmont in the third quarter valued at about $161,000. Royal London Asset Management Ltd. raised its position in Newmont by 2.7% in the third quarter. Royal London Asset Management Ltd. now owns 475,146 shares of the basic materials company's stock valued at $25,397,000 after purchasing an additional 12,705 shares during the period. Investment Management Corp of Ontario raised its position in Newmont by 49.0% in the third quarter. Investment Management Corp of Ontario now owns 38,328 shares of the basic materials company's stock valued at $2,049,000 after purchasing an additional 12,600 shares during the period. Finally, Itau Unibanco Holding S.A. raised its position in Newmont by 13.4% in the third quarter. Itau Unibanco Holding S.A. now owns 24,486 shares of the basic materials company's stock valued at $1,309,000 after purchasing an additional 2,898 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Up 1.5 %

NEM traded up $0.62 during trading on Monday, reaching $41.73. The stock had a trading volume of 10,647,861 shares, compared to its average volume of 10,490,840. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The stock has a 50 day moving average of $47.72 and a two-hundred day moving average of $47.41.

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 during 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 business's revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. Equities analysts predict that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. Newmont's dividend payout ratio is currently -65.79%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's 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 sale, the executive vice president now directly owns 91,596 shares of the company's stock, valued at $4,928,780.76. The trade was a 3.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry M. Iv Conger bought 9,498 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on NEM. Cibc World Mkts lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Argus raised Newmont from a "hold" rating to a "buy" rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. UBS Group lowered Newmont from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a report on Friday, October 4th. Finally, Raymond James decreased their target price on Newmont from $62.00 to $59.00 and set an "outperform" rating for the company in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.31.

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.