Moloney Securities Asset Management LLC Trims Stake in Newmont Co. (NYSE:NEM)

Moloney Securities Asset Management LLC lowered its stake in shares of Newmont Co. (NYSE:NEM) by 46.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,879 shares of the basic materials company’s stock after selling 4,170 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Newmont were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. LRI Investments LLC purchased a new stake in Newmont in the first quarter worth about $25,000. Strategic Financial Concepts LLC purchased a new stake in Newmont in the second quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in Newmont in the second quarter worth about $27,000. Hoese & Co LLP purchased a new stake in Newmont in the third quarter worth about $27,000. Finally, Highline Wealth Partners LLC purchased a new stake in Newmont in the third quarter worth about $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents 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 this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by insiders.

Newmont Price Performance

Shares of NYSE:NEM opened at $44.48 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a fifty day moving average price of $52.49 and a 200 day moving average price of $47.30. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The firm has a market cap of $50.64 billion, a price-to-earnings ratio of -29.26, a P/E/G ratio of 0.38 and a beta of 0.51.

Newmont (NYSE:NEM) last issued 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). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the company posted $0.36 EPS. Newmont’s revenue was up 84.7% compared to the same quarter last year. As a group, sell-side analysts expect that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 dividend yield of 2.25%. Newmont’s dividend payout ratio is -65.79%.

Analysts Set New Price Targets

A number of brokerages have weighed in on NEM. Royal Bank of Canada cut their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.85.

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.