Wellington Management Group LLP Sells 32,151 Shares of Newmont Co. (NYSE:NEM)

Wellington Management Group LLP trimmed its position in Newmont Co. (NYSE:NEM) by 15.3% during the third quarter, HoldingsChannel.com reports. The fund owned 178,233 shares of the basic materials company’s stock after selling 32,151 shares during the quarter. Wellington Management Group LLP’s holdings in Newmont were worth $9,527,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NEM. Van ECK Associates Corp raised its holdings in shares of Newmont by 2.6% during the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after buying an additional 1,289,084 shares in the last quarter. Legal & General Group Plc grew its position in Newmont by 1.4% in the second 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 last quarter. FMR LLC lifted its holdings in shares of Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Newmont by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after purchasing an additional 545,903 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Newmont by 29.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock valued at $197,976,000 after purchasing an additional 1,074,623 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

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

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion for 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 firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 EPS. On average, analysts expect that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders 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 annualized dividend and a dividend yield of 2.49%. Newmont’s dividend payout ratio is currently -65.79%.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. The trade was a 6.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the 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 owns 91,596 shares in the company, valued at approximately $4,928,780.76. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NEM has been the subject of several research reports. Veritas raised shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Royal Bank of Canada cut their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, August 29th. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, Raymond James lowered their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

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.