Northwest & Ethical Investments L.P. Has $9.37 Million Stake in Newmont Co. (NYSE:NEM)

Northwest & Ethical Investments L.P. lessened its position in shares of Newmont Co. (NYSE:NEM) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,203 shares of the basic materials company’s stock after selling 12,601 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Newmont were worth $9,365,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NEM. LRI Investments LLC acquired a new position in Newmont during the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Newmont during the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont during the second quarter worth approximately $27,000. Hoese & Co LLP acquired a new position in Newmont in the third quarter valued at approximately $27,000. Finally, Avior Wealth Management LLC boosted its stake in 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 acquiring an additional 326 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on NEM. Bernstein Bank upped their target price on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, August 29th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group increased their price target on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $54.31.

Newmont Trading Up 0.1 %

Shares of NYSE:NEM opened at $42.04 on Friday. The firm has a market cap of $47.86 billion, a price-to-earnings ratio of -27.66, a PEG ratio of 0.36 and a beta of 0.51. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The company’s fifty day simple moving average is $49.35 and its 200 day simple moving average is $47.43.

Newmont (NYSE:NEM) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, research analysts forecast that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is currently -65.79%.

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.