Newmont Co. (NYSE:NEM) Stock Position Lowered by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in Newmont Co. (NYSE:NEM) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,398 shares of the basic materials company’s stock after selling 27,792 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Newmont were worth $10,284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Cetera Investment Advisers grew its stake in Newmont by 990.2% in the 1st quarter. Cetera Investment Advisers now owns 205,894 shares of the basic materials company’s stock valued at $7,379,000 after buying an additional 187,008 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of Newmont by 30.3% during the 1st quarter. Cetera Advisors LLC now owns 21,464 shares of the basic materials company’s stock worth $769,000 after acquiring an additional 4,987 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in Newmont by 35.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 94,471 shares of the basic materials company’s stock valued at $3,386,000 after purchasing an additional 24,819 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Newmont by 32.5% during the 2nd quarter. GAMMA Investing LLC now owns 15,366 shares of the basic materials company’s stock valued at $643,000 after purchasing an additional 3,772 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in Newmont by 8.2% during the 2nd quarter. DNB Asset Management AS now owns 219,984 shares of the basic materials company’s stock valued at $9,211,000 after purchasing an additional 16,623 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $41.94 on Monday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. 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 has a market cap of $47.75 billion, a price-to-earnings ratio of -27.59, a PEG ratio of 0.36 and a beta of 0.51. The company has a fifty day moving average price of $49.09 and a 200-day moving average price of $47.49.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. As a group, equities research analysts predict that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Raymond James dropped their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Bernstein Bank upped their price target on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Royal Bank of Canada reduced their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Finally, Jefferies Financial Group upped their price target on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.31.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction 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 represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock worth $2,444,440 over the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Company 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.