Banque Cantonale Vaudoise Has $3.12 Million Holdings in Newmont Co. (NYSE:NEM)

Banque Cantonale Vaudoise cut its position in shares of Newmont Co. (NYSE:NEM) by 24.4% during the third quarter, HoldingsChannel.com reports. The firm owned 58,278 shares of the basic materials company’s stock after selling 18,808 shares during the period. Banque Cantonale Vaudoise’s holdings in Newmont were worth $3,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. LRI Investments LLC bought a new stake in Newmont in the 1st quarter valued at $25,000. Strategic Financial Concepts LLC bought a new stake in Newmont in the second quarter valued at about $25,000. Meeder Asset Management Inc. bought a new stake in Newmont in the second quarter valued at about $27,000. Hoese & Co LLP acquired a new position in Newmont in the third quarter worth about $27,000. Finally, Highline Wealth Partners LLC acquired a new stake in Newmont during the third quarter valued at approximately $32,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,000 shares of company stock worth $2,444,440. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on NEM shares. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. BMO Capital Markets lifted their price objective on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday. Finally, Bernstein Bank raised their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.14.

Newmont Trading Up 1.9 %

NYSE NEM opened at $43.16 on Wednesday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock’s 50 day moving average price is $50.78 and its two-hundred day moving average price is $47.47. The stock has a market capitalization of $49.14 billion, a price-to-earnings ratio of -28.39, a PEG ratio of 0.34 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its earnings results 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). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the previous year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

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.