Newmont Co. (NYSE:NEM) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP trimmed its stake in shares of Newmont Co. (NYSE:NEM) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,035 shares of the basic materials company’s stock after selling 356 shares during the period. Qsemble Capital Management LP’s holdings in Newmont were worth $1,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Manchester Capital Management LLC grew its stake in shares of Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 397 shares during the period. LRI Investments LLC acquired a new stake in Newmont during the first quarter valued at $25,000. Heritage Wealth Advisors increased its holdings in Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares in the last quarter. Crewe Advisors LLC purchased a new position in Newmont in the first quarter valued at $35,000. Finally, Rise Advisors LLC raised its position in shares of Newmont by 2,373.2% in the first quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 973 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on NEM. Sanford C. Bernstein cut their price target on Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Thursday, May 16th. Bank of America boosted their price objective on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Finally, Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $48.00 to $59.00 in a research report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at $13,964,788.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the completion of the sale, the chief executive officer now owns 331,469 shares in the company, valued at $13,964,788.97. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,000 shares of company stock valued at $2,744,700. 0.06% of the stock is currently owned by insiders.

Newmont Stock Down 1.1 %

Shares of NYSE NEM opened at $50.74 on Thursday. The stock has a market cap of $58.51 billion, a PE ratio of -19.00, a P/E/G ratio of 0.37 and a beta of 0.49. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $53.88. The company has a 50-day moving average of $48.95 and a 200 day moving average of $42.46.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the prior year, the business earned $0.33 earnings per share. The business’s revenue was up 64.1% compared to the same quarter last year. As a group, sell-side analysts predict that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. Newmont’s payout ratio is -37.45%.

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.