Newmont Co. (NYSE:NEM) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its stake in shares of Newmont Co. (NYSE:NEM) by 17.4% during the 3rd quarter, Holdings Channel reports. The fund owned 186,067 shares of the basic materials company’s stock after selling 39,140 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Newmont were worth $9,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after acquiring an additional 16,190,422 shares during the period. Van ECK Associates Corp grew its holdings in Newmont by 2.6% during the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after acquiring an additional 1,289,084 shares during the period. Legal & General Group Plc grew its holdings in Newmont by 1.4% in the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after purchasing an additional 109,084 shares during the period. Dimensional Fund Advisors LP grew its holdings in Newmont by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after purchasing an additional 545,903 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Newmont by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock valued at $175,872,000 after purchasing an additional 313,736 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of Newmont stock opened at $54.30 on Friday. Newmont Co. has a one year low of $29.42 and a one year high of $56.30. The company has a market cap of $62.62 billion, a price-to-earnings ratio of -20.34, a PEG ratio of 0.43 and a beta of 0.50. 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 business’s 50 day moving average price is $52.00 and its 200 day moving average price is $45.62.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter last year, the business posted $0.33 earnings per share. The firm’s revenue was up 64.1% compared to the same quarter last year. On average, research analysts predict that Newmont Co. will post 3.1 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.84%. Newmont’s dividend payout ratio is currently -37.45%.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock worth $3,434,640 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NEM has been the topic of several research analyst reports. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday, August 29th. BNP Paribas raised Newmont to a “strong-buy” rating in a report on Friday, June 21st. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. UBS Group raised their price objective on Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.31.

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.