Newmont Co. (NYSE:NEM) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lessened its stake in Newmont Co. (NYSE:NEM) by 11.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 24,075 shares of the basic materials company’s stock after selling 3,251 shares during the period. Peapack Gladstone Financial Corp’s holdings in Newmont were worth $1,287,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in shares of Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after buying an additional 1,289,084 shares in the last quarter. Geode Capital Management LLC lifted its stake in Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after acquiring an additional 326,243 shares in the last quarter. Legal & General Group Plc boosted its holdings in Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after acquiring an additional 109,084 shares during the period. FMR LLC grew its position in Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after purchasing an additional 545,903 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, Director Harry M. Iv Conger acquired 9,498 shares of the stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction 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 in the company, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent research reports. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $59.00 to $55.00 in a research note on Friday, October 25th. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Royal Bank of Canada decreased their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. Finally, CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Price Performance

Shares of NYSE:NEM opened at $40.22 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The firm has a market capitalization of $45.79 billion, a P/E ratio of -26.46, a P/E/G ratio of 0.36 and a beta of 0.49. The company’s fifty day moving average price is $46.50 and its 200 day moving average price is $47.39.

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

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders 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 2.49%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is currently -65.79%.

Newmont Company 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.