Commerzbank Aktiengesellschaft FI Trims Stake in Newmont Co. (NYSE:NEM)

Commerzbank Aktiengesellschaft FI trimmed its holdings in shares of Newmont Co. (NYSE:NEM) by 24.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 355,864 shares of the basic materials company’s stock after selling 115,221 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Newmont were worth $19,021,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEM. Heathbridge Capital Management Ltd. lifted its stake in Newmont by 2.0% during the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 200 shares during the last quarter. Fulton Bank N.A. lifted its stake in Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after purchasing an additional 221 shares during the last quarter. Good Life Advisors LLC lifted its stake in Newmont by 4.6% during the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 229 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its stake in Newmont by 0.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 64,082 shares of the basic materials company’s stock worth $2,683,000 after purchasing an additional 233 shares during the last quarter. Finally, KCM Investment Advisors LLC lifted its stake in Newmont by 2.3% during the second quarter. KCM Investment Advisors LLC now owns 10,819 shares of the basic materials company’s stock worth $453,000 after purchasing an additional 244 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Trading Down 0.9 %

NEM opened at $58.16 on Wednesday. The business has a 50 day simple moving average of $53.25 and a two-hundred day simple moving average of $46.67. The firm has a market capitalization of $67.07 billion, a price-to-earnings ratio of -21.98, a PEG ratio of 0.43 and a beta of 0.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share 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 in the prior year, the business earned $0.33 EPS. The business’s revenue for the quarter was up 64.1% on a year-over-year basis. Analysts predict that Newmont Co. will post 3.1 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on NEM shares. Veritas raised Newmont to a “strong-buy” rating in a research note on Monday, September 30th. BMO Capital Markets lifted their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Bank of America lifted their price target on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.46.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’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 in the company, valued at approximately $4,928,780.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’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 value of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,000 shares of company stock worth $3,434,640. Company 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.