Quantinno Capital Management LP Buys 10,888 Shares of Newmont Co. (NYSE:NEM)

Quantinno Capital Management LP lifted its stake in Newmont Co. (NYSE:NEM) by 9.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,725 shares of the basic materials company’s stock after acquiring an additional 10,888 shares during the period. Quantinno Capital Management LP’s holdings in Newmont were worth $6,773,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NEM. Strategic Financial Concepts LLC acquired a new position in Newmont during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in Newmont during the 2nd quarter valued at about $27,000. Hoese & Co LLP acquired a new position in Newmont during the 3rd quarter valued at about $27,000. Avior Wealth Management LLC increased its position in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Newmont during the 3rd quarter valued at about $28,000. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Harry M. Iv Conger bought 9,498 shares of Newmont stock in a transaction 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. The trade was a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the transaction, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. The trade was a 6.86 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NEM. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Royal Bank of Canada dropped their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Bernstein Bank boosted their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Jefferies Financial Group boosted their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

Newmont Stock Performance

Shares of NEM stock opened at $41.09 on Friday. The business’s 50 day moving average is $47.97 and its two-hundred day moving average is $47.37. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72.

Newmont (NYSE:NEM) last issued 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 business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 EPS. On average, equities analysts expect 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. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.43%. Newmont’s dividend payout ratio is currently -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.