ING Groep NV Lowers Position in Newmont Co. (NYSE:NEM)

ING Groep NV trimmed its position in Newmont Co. (NYSE:NEM) by 25.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 153,508 shares of the basic materials company’s stock after selling 52,511 shares during the period. ING Groep NV’s holdings in Newmont were worth $8,205,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NEM. Sei Investments Co. lifted its position in Newmont by 67.5% during the 1st quarter. Sei Investments Co. now owns 203,859 shares of the basic materials company’s stock valued at $7,307,000 after acquiring an additional 82,165 shares during the period. Blair William & Co. IL boosted its position in shares of Newmont by 4.4% in the 1st quarter. Blair William & Co. IL now owns 31,636 shares of the basic materials company’s stock worth $1,134,000 after purchasing an additional 1,339 shares in the last quarter. M&G Plc purchased a new stake in shares of Newmont in the 1st quarter worth approximately $2,834,000. Jupiter Asset Management Ltd. bought a new position in Newmont during the 1st quarter valued at approximately $27,769,000. Finally, Vanguard Group Inc. raised its stake in Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after buying an additional 16,190,422 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Raymond James increased their target price on Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Bernstein Bank upped their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.14.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction 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. This trade represents a 6.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were 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. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock worth $2,444,440 over the last three months. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Up 0.6 %

Shares of Newmont stock opened at $40.91 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market capitalization of $46.57 billion, a PE ratio of -26.91, a P/E/G ratio of 0.34 and a beta of 0.51. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The company’s fifty day simple moving average is $51.30 and its 200-day simple moving average is $47.36.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, equities analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current 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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.44%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio 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.