Wellington Management Group LLP Has $9.53 Million Stake in Newmont Co. (NYSE:NEM)

Wellington Management Group LLP cut its stake in Newmont Co. (NYSE:NEM - Free Report) by 15.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,233 shares of the basic materials company's stock after selling 32,151 shares during the quarter. Wellington Management Group LLP's holdings in Newmont were worth $9,527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Heathbridge Capital Management Ltd. raised its holdings in shares of Newmont by 2.0% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company's stock valued at $551,000 after purchasing an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB increased its position in Newmont by 0.4% during the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company's stock worth $2,562,000 after buying an additional 200 shares during the last quarter. Fulton Bank N.A. raised its holdings in Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company's stock valued at $812,000 after buying an additional 221 shares in the last quarter. Carmel Capital Partners LLC lifted its position in shares of Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company's stock worth $279,000 after buying an additional 226 shares during the last quarter. Finally, Good Life Advisors LLC boosted its stake in shares of Newmont by 4.6% during the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company's stock worth $277,000 after acquiring an additional 229 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NEM. Royal Bank of Canada cut their price objective on Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 24th. Cibc World Mkts downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Monday, October 28th. CIBC cut shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research note on Monday, October 28th. Jefferies Financial Group boosted their price target on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Finally, Veritas upgraded Newmont to a "strong-buy" rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.31.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred 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. This represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 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. Company insiders own 0.06% of the company's stock.

Newmont Price Performance

Shares of Newmont stock traded down $0.13 during mid-day trading on Monday, reaching $40.09. 10,056,219 shares of the stock were exchanged, compared to its average volume of 10,460,128. The company has a market cap of $45.63 billion, a price-to-earnings ratio of -26.37, a price-to-earnings-growth ratio of 0.36 and a beta of 0.49. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week 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 50-day simple moving average of $46.24 and a 200 day simple moving average of $47.38.

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 the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion for 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 quarterly revenue was up 84.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. On average, sell-side analysts predict that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders 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 2.49%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's dividend payout ratio is currently -65.79%.

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.