Banco Santander S.A. Boosts Stock Position in Newmont Co. (NYSE:NEM)

Banco Santander S.A. raised its position in Newmont Co. (NYSE:NEM) by 43.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,424 shares of the basic materials company’s stock after purchasing an additional 3,480 shares during the period. Banco Santander S.A.’s holdings in Newmont were worth $611,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. boosted its holdings in shares of Newmont by 7.5% during the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 529 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Newmont in the 1st quarter valued at about $62,000. LRI Investments LLC acquired a new position in shares of Newmont during the 1st quarter valued at about $51,000. Lazard Asset Management LLC boosted its position in shares of Newmont by 95.7% in the first quarter. Lazard Asset Management LLC now owns 46,788 shares of the basic materials company’s stock worth $1,676,000 after acquiring an additional 22,880 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Newmont by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock valued at $175,872,000 after purchasing an additional 313,736 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the company’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 $161,430.00. Following the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock valued at $2,444,440 in the last quarter. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $43.38 on Friday. 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 stock has a 50 day moving average of $50.23 and a 200-day moving average of $47.47. The stock has a market cap of $49.39 billion, a P/E ratio of -28.54, a price-to-earnings-growth ratio of 0.37 and a beta of 0.51. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’s revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. On average, analysts expect that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.31%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

Analyst Ratings Changes

A number of brokerages have weighed in on NEM. Bernstein Bank lifted their price target on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Raymond James lifted their target price on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.85.

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.