Northwest & Ethical Investments L.P. Has $9.37 Million Stock Position in Newmont Co. (NYSE:NEM)

Northwest & Ethical Investments L.P. reduced its position in Newmont Co. (NYSE:NEM) by 6.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,203 shares of the basic materials company’s stock after selling 12,601 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Newmont were worth $9,365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LRI Investments LLC bought a new position in Newmont during the first quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Newmont during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in shares of Newmont in the 2nd quarter valued at approximately $27,000. Hoese & Co LLP acquired a new stake in Newmont in the 3rd quarter worth approximately $27,000. Finally, Avior Wealth Management LLC boosted 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 worth $27,000 after purchasing an additional 326 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated 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 approximately $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock valued at $2,444,440. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent analyst reports. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the company from $67.00 to $54.00 in a research report 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. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Thursday, August 29th. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Stock Up 0.1 %

NEM opened at $42.04 on Friday. The company has a market capitalization of $47.86 billion, a P/E ratio of -27.66, a P/E/G ratio of 0.36 and a beta of 0.51. 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 firm’s fifty day moving average price is $49.35 and its two-hundred day moving average price is $47.43. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last issued its 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 negative net margin of 7.03% and a positive return on equity of 9.80%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the firm posted $0.36 earnings per share. Newmont’s revenue was up 84.7% on a year-over-year basis. On average, analysts anticipate that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. Newmont’s dividend payout ratio is currently -65.79%.

About Newmont

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.