Newmont Co. (NYSE:NEM) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. increased its stake in Newmont Co. (NYSE:NEM) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,005 shares of the basic materials company’s stock after acquiring an additional 706 shares during the period. QRG Capital Management Inc.’s holdings in Newmont were worth $1,123,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in Newmont by 7.5% in the 1st quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 529 shares in the last quarter. Herr Investment Group LLC acquired a new stake in Newmont in the second quarter valued at approximately $419,000. Truist Financial Corp lifted its stake in Newmont by 8.1% in the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock worth $6,295,000 after acquiring an additional 11,276 shares during the last quarter. Cetera Trust Company N.A acquired a new position in Newmont during the 3rd quarter worth approximately $705,000. Finally, Primoris Wealth Advisors LLC purchased a new stake in shares of Newmont in the 2nd quarter valued at approximately $607,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on NEM shares. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Raymond James lifted their price target on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. BMO Capital Markets raised their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Veritas upgraded Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Nine 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.85.

Newmont Trading Down 0.3 %

Shares of Newmont stock opened at $45.04 on Friday. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a fifty day moving average of $52.17 and a two-hundred day moving average of $47.34.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the previous year, the business earned $0.36 EPS. Newmont’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, equities research analysts forecast that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’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 $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock valued at $2,444,440 over the last quarter. Company insiders own 0.06% of the company’s stock.

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.