Y Intercept Hong Kong Ltd Makes New $3.27 Million Investment in Newmont Co. (NYSE:NEM)

Y Intercept Hong Kong Ltd purchased a new stake in Newmont Co. (NYSE:NEM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 61,173 shares of the basic materials company's stock, valued at approximately $3,270,000.

Other large investors have also recently modified their holdings of the company. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new position in shares of Newmont during the second quarter valued at approximately $27,000. Hoese & Co LLP purchased a new stake in Newmont in the 3rd quarter valued at $27,000. Avior Wealth Management LLC raised its holdings in shares of Newmont by 191.8% in 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 last quarter. Finally, Prospera Private Wealth LLC bought a new position in shares of Newmont during the 3rd quarter worth approximately $28,000. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NEM stock traded down $0.23 during trading hours on Tuesday, hitting $41.50. 7,745,129 shares of the company's stock were exchanged, compared to its average volume of 10,479,719. The company has a market capitalization of $47.25 billion, a PE ratio of -27.30, a PEG ratio of 0.35 and a beta of 0.49. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The business's 50 day simple moving average is $47.48 and its 200-day simple moving average is $47.41.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results 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). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The business's revenue for the quarter was up 84.7% on a year-over-year basis. On average, equities research analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.41%. Newmont's payout ratio is -65.79%.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 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 value of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares of the company's stock, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction 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 owns 271,469 shares in the company, valued at approximately $14,607,746.89. This trade represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

NEM has been the topic of a number of research analyst reports. Cibc World Mkts downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Monday, October 28th. Royal Bank of Canada lowered their price target on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 24th. Jefferies Financial Group raised their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a report on Friday, October 4th. UBS Group cut Newmont from a "buy" rating to a "neutral" rating and decreased their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, Bernstein Bank raised their price target on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.31.

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.