Townsquare Capital LLC Grows Stock Position in Newmont Co. (NYSE:NEM)

Townsquare Capital LLC boosted its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 117.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,299 shares of the basic materials company's stock after buying an additional 12,596 shares during the period. Townsquare Capital LLC's holdings in Newmont were worth $1,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised 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. Hoese & Co LLP purchased a new stake in Newmont during the third quarter valued at approximately $27,000. Prospera Private Wealth LLC purchased a new stake in Newmont during the third quarter valued at approximately $28,000. Highline Wealth Partners LLC purchased a new stake in Newmont during the third quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. purchased a new stake in Newmont during the second quarter valued at approximately $27,000. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NEM shares. CIBC downgraded Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. Scotiabank downgraded Newmont from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the stock from $59.00 to $55.00 in a report on Friday, October 25th. UBS Group downgraded Newmont from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Bernstein Bank increased their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, Royal Bank of Canada reduced their price target on Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $54.31.

Insider Transactions at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont 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 sale, the chief executive officer now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.06% of the company's stock.

Newmont Stock Up 1.6 %

NYSE NEM traded up $0.66 during midday trading on Tuesday, hitting $41.57. 8,481,903 shares of the company traded hands, compared to its average volume of 10,493,251. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company has a market cap of $47.33 billion, a PE ratio of -26.91, a price-to-earnings-growth ratio of 0.36 and a beta of 0.49. The company's 50-day simple moving average is $49.09 and its 200-day simple moving average is $47.49. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted 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 business 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 firm's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. As a group, equities research analysts forecast that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. Newmont's payout ratio 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.