Newmont Co. (NYSE:NEM) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Newmont Co. (NYSE:NEM) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 23,484,382 shares of the basic materials company’s stock after buying an additional 326,243 shares during the period. Geode Capital Management LLC’s holdings in Newmont were worth $1,253,457,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI purchased a new stake in shares of Newmont in the third quarter worth about $98,011,000. Van ECK Associates Corp boosted its holdings in Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after acquiring an additional 1,289,084 shares during the period. FMR LLC grew its position in Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Newmont by 262.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after purchasing an additional 1,096,905 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Newmont by 47.7% during the second quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock worth $140,460,000 after purchasing an additional 1,088,742 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Down 0.6 %

NYSE:NEM opened at $41.50 on Wednesday. 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 $47.48 and a 200-day moving average of $47.41. The firm has a market capitalization of $47.25 billion, a PE ratio of -27.30, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. Newmont Co. has a 52 week low of $29.42 and a 52 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). The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. Newmont’s quarterly revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 earnings per share. Analysts predict that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.41%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is -65.79%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Bernstein Bank raised their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.31.

Insider Buying and Selling at Newmont

In related news, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 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 transaction of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

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.