DekaBank Deutsche Girozentrale Lowers Stock Holdings in Newmont Co. (NYSE:NEM)

DekaBank Deutsche Girozentrale lowered its position in Newmont Co. (NYSE:NEM) by 30.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 908,009 shares of the basic materials company’s stock after selling 395,737 shares during the period. DekaBank Deutsche Girozentrale owned about 0.08% of Newmont worth $37,960,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NEM. LRI Investments LLC bought a new position in shares of Newmont in the first quarter worth about $25,000. Strategic Financial Concepts LLC bought a new position in Newmont in the 2nd quarter worth approximately $25,000. Manchester Capital Management LLC grew its holdings in Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after buying an additional 397 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Newmont during the second quarter valued at approximately $27,000. Finally, Heritage Wealth Advisors lifted its holdings in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. Jefferies Financial Group lifted their price target on shares of Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, July 12th. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and lifted their target price for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. Argus raised 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. Bank of America lifted their price objective on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, BMO Capital Markets upped their target price on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.46.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,000 shares of company stock valued at $2,744,700. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Up 1.6 %

NYSE NEM opened at $53.71 on Friday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $54.25. The company’s 50-day moving average price is $49.32 and its 200-day moving average price is $42.79. The stock has a market cap of $61.63 billion, a PE ratio of -20.12, a PEG ratio of 0.37 and a beta of 0.49. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. Equities research analysts forecast that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio is -37.45%.

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.