Charles Schwab Investment Management Inc. Sells 11,757 Shares of Newmont Co. (NYSE:NEM)

Charles Schwab Investment Management Inc. trimmed its stake in Newmont Co. (NYSE:NEM) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,758,050 shares of the basic materials company’s stock after selling 11,757 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Newmont were worth $361,218,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NEM. O Shaughnessy Asset Management LLC raised its stake in Newmont by 28.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 37,489 shares of the basic materials company’s stock valued at $1,344,000 after purchasing an additional 8,224 shares during the period. Bessemer Group Inc. increased its holdings in shares of Newmont by 7.5% in the 1st quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock worth $271,000 after buying an additional 529 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Newmont in the 1st quarter valued at approximately $62,000. EP Wealth Advisors LLC boosted its stake in Newmont by 11.0% during the first quarter. EP Wealth Advisors LLC now owns 30,569 shares of the basic materials company’s stock worth $1,096,000 after buying an additional 3,028 shares during the period. Finally, LRI Investments LLC bought a new position in Newmont during the first quarter valued at $51,000. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

NEM has been the subject of several analyst reports. Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and cut their target price for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Raymond James increased their price target on Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada dropped their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Finally, Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average price target of $54.85.

Newmont Stock Up 0.1 %

NYSE NEM opened at $43.37 on Friday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. 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 firm’s 50 day moving average price is $50.23 and its 200-day moving average price is $47.42.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion during 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%. The company’s revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. On average, equities analysts forecast that Newmont Co. will post 3.12 EPS for the current year.

Newmont Announces Dividend

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

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. This represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,000 shares of company stock worth $2,444,440. Corporate insiders own 0.06% of the company’s stock.

About Newmont

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.