Toronto Dominion Bank Grows Stake in Newmont Co. (NYSE:NEM)

Toronto Dominion Bank raised its position in Newmont Co. (NYSE:NEM - Free Report) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 748,420 shares of the basic materials company's stock after acquiring an additional 14,251 shares during the period. Toronto Dominion Bank owned approximately 0.07% of Newmont worth $40,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont during the second quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in Newmont during the 2nd quarter worth approximately $27,000. Hoese & Co LLP purchased a new position in shares of Newmont during the third quarter worth $27,000. Avior Wealth Management LLC lifted its position in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 326 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in Newmont in the third quarter valued at $28,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the business's stock in a transaction dated 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. The trade was a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company's 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 $161,430.00. Following the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Scotiabank downgraded Newmont from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. UBS Group cut shares of Newmont from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. CIBC downgraded shares of Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. Veritas raised shares of Newmont to a "strong-buy" rating in a research note on Monday, September 30th. Finally, CLSA initiated coverage on Newmont in a report on Friday, November 29th. They issued an "underperform" rating for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $54.31.

Newmont Trading Down 1.7 %

NEM stock traded down $0.72 during trading on Thursday, reaching $41.56. 7,364,024 shares of the stock were exchanged, compared to its average volume of 10,458,123. The business has a 50 day moving average price of $46.99 and a 200-day moving average price of $47.37. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $47.31 billion, a price-to-earnings ratio of -27.50, a P/E/G ratio of 0.35 and a beta of 0.49.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business's revenue for the quarter was up 84.7% on a year-over-year basis. During the same period last year, the company earned $0.36 EPS. On average, research analysts predict that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is -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.