Healthcare of Ontario Pension Plan Trust Fund Sells 339,800 Shares of Newmont Co. (NYSE:NEM)

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 54.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 290,000 shares of the basic materials company’s stock after selling 339,800 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Newmont were worth $15,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its holdings in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the period. Hoese & Co LLP bought a new position in Newmont in the third quarter valued at about $27,000. Prospera Private Wealth LLC bought a new position in Newmont in the third quarter valued at about $28,000. Highline Wealth Partners LLC bought a new position in Newmont in the third quarter valued at about $32,000. Finally, Meeder Asset Management Inc. bought a new position in Newmont in the second quarter valued at about $27,000. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Raymond James reduced their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

Newmont Trading Up 0.1 %

NYSE NEM opened at $42.04 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The business has a 50 day simple moving average of $49.35 and a two-hundred day simple moving average of $47.43.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business 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 for the quarter was up 84.7% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. On average, sell-side analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Insider Activity at Newmont

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