Newmont Co. (NYSE:NEM) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC cut its position in Newmont Co. (NYSE:NEM) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,463 shares of the basic materials company’s stock after selling 11,605 shares during the quarter. Lmcg Investments LLC’s holdings in Newmont were worth $7,849,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Principal Securities Inc. acquired a new position in Newmont during the 4th quarter worth $83,000. Avantax Advisory Services Inc. grew its stake in Newmont by 3.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 17,295 shares of the basic materials company’s stock worth $716,000 after purchasing an additional 552 shares in the last quarter. Panagora Asset Management Inc. grew its stake in Newmont by 14.7% during the 4th quarter. Panagora Asset Management Inc. now owns 62,856 shares of the basic materials company’s stock worth $2,602,000 after purchasing an additional 8,056 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in Newmont during the 4th quarter worth $231,000. Finally, Norges Bank acquired a new position in Newmont during the 4th quarter worth $604,516,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Bank of America boosted their target price on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and boosted their target price for the stock from $46.00 to $61.00 in a research note on Wednesday, July 10th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $50.00 in a research report on Monday, June 17th. Scotiabank raised 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. Finally, Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.46.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,963,452.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The disclosure for this sale can be found here. Insiders sold a total of 56,000 shares of company stock valued at $2,744,700 in the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Stock Down 1.0 %

Newmont stock opened at $53.15 on Tuesday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $54.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The company has a market capitalization of $61.29 billion, a P/E ratio of -19.91, a PEG ratio of 0.37 and a beta of 0.49. The stock has a 50-day simple moving average of $49.50 and a 200-day simple moving average of $43.04.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $4.13 billion. During the same period in the previous year, the business earned $0.33 EPS. The business’s quarterly revenue was up 64.1% on a year-over-year basis. Equities research analysts expect that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio is presently -37.45%.

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.