65,119 Shares in Newmont Co. (NYSE:NEM) Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in shares of Newmont Co. (NYSE:NEM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 65,119 shares of the basic materials company’s stock, valued at approximately $3,481,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEM. Heathbridge Capital Management Ltd. grew its stake in Newmont by 2.0% during the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 200 shares during the period. E. Ohman J or Asset Management AB grew its holdings in Newmont by 0.4% in 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 purchasing an additional 200 shares during the period. Fulton Bank N.A. grew its stake in shares of Newmont by 1.5% in the 3rd 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 during the period. Carmel Capital Partners LLC increased its position in Newmont by 4.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after buying an additional 226 shares in the last quarter. Finally, Good Life Advisors LLC boosted its holdings in Newmont by 4.6% in the third 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. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $1,076,200.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 over the last quarter. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research reports. Scotiabank lowered 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 report on Friday, October 25th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Jefferies Financial Group boosted their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Raymond James lowered their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.31.

Newmont Price Performance

NEM stock opened at $42.04 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market cap of $47.86 billion, a P/E ratio of -27.66, a P/E/G ratio of 0.37 and a beta of 0.51. The firm’s fifty day moving average is $49.57 and its 200 day moving average is $47.47. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72.

Newmont (NYSE:NEM) 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). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period last year, the firm posted $0.36 EPS. The company’s revenue was up 84.7% on a year-over-year basis. Research analysts predict that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. Newmont’s dividend payout ratio (DPR) is presently -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.