Groupama Asset Managment Has $5.18 Million Position in Newmont Co. (NYSE:NEM)

Groupama Asset Managment lifted its stake in shares of Newmont Co. (NYSE:NEM) by 45.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,873 shares of the basic materials company’s stock after acquiring an additional 30,170 shares during the period. Groupama Asset Managment’s holdings in Newmont were worth $5,178,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Heathbridge Capital Management Ltd. lifted its position in shares of Newmont by 2.0% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after acquiring an additional 200 shares during the period. E. Ohman J or Asset Management AB increased its stake in Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after purchasing an additional 200 shares in the last quarter. Fulton Bank N.A. increased its stake in Newmont by 1.5% during the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after purchasing an additional 221 shares in the last quarter. Carmel Capital Partners LLC increased its stake in Newmont by 4.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 226 shares in the last quarter. Finally, Good Life Advisors LLC increased its stake in Newmont by 4.6% during the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after purchasing an additional 229 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Thursday, August 29th. Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group upped their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s 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 sale, the chief executive officer now owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Harry M. Iv Conger bought 9,498 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NEM stock opened at $41.11 on Monday. The stock has a fifty day moving average of $47.72 and a 200-day moving average of $47.41. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. 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 (NYSE:NEM) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion during 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%. Newmont’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. As a group, sell-side analysts forecast that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced 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 is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. Newmont’s dividend payout ratio is currently -65.79%.

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.