Newmont Co. (NYSE:NEM) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its stake in Newmont Co. (NYSE:NEM) by 1.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 97,359 shares of the basic materials company’s stock after selling 1,797 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Newmont were worth $5,204,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. LRI Investments LLC acquired a new stake in shares of Newmont in the first quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont in the second quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont in the second quarter valued at about $27,000. Hoese & Co LLP acquired a new stake in shares of Newmont in the third quarter valued at about $27,000. Finally, Avior Wealth Management LLC grew its stake in shares of 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 buying an additional 326 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM opened at $42.25 on Wednesday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock’s 50 day simple moving average is $49.80 and its 200 day simple moving average is $47.50.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. Research analysts expect that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is -65.79%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent research reports. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Jefferies Financial Group raised their price objective on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Veritas upgraded Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

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 transaction of $1,076,200.00. Following the sale, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock valued at $2,444,440 in the last quarter. Corporate 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.