Newmont Co. (NYSE:NEM) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. lessened its position in shares of Newmont Co. (NYSE:NEM) by 29.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,248 shares of the basic materials company’s stock after selling 2,227 shares during the quarter. First City Capital Management Inc.’s holdings in Newmont were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after acquiring an additional 16,190,422 shares during the last quarter. Van ECK Associates Corp boosted its stake in 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 purchasing an additional 1,289,084 shares during the period. Bank of New York Mellon Corp grew its position in Newmont by 39.8% during the 1st quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock worth $832,354,000 after purchasing an additional 6,617,145 shares during the last quarter. Northern Trust Corp increased its stake in Newmont by 25.9% in the fourth quarter. Northern Trust Corp now owns 12,988,497 shares of the basic materials company’s stock valued at $537,594,000 after purchasing an additional 2,671,774 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Newmont by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after buying an additional 545,903 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BNP Paribas upgraded Newmont to a “strong-buy” rating in a research report on Friday, June 21st. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and boosted their target price for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. BMO Capital Markets increased their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. UBS Group boosted their price objective on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.62.

Insider Buying and Selling at Newmont

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

Newmont Price Performance

NEM stock opened at $54.47 on Friday. The firm has a 50 day moving average of $50.10 and a 200-day moving average of $43.54. The company has a market cap of $62.81 billion, a price-to-earnings ratio of -20.40, 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 Co. has a 12-month low of $29.42 and a 12-month high of $54.93.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. Newmont’s revenue was up 64.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. As a group, equities analysts expect that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.84%. Newmont’s 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.