KCM Investment Advisors LLC Cuts Position in Newmont Co. (NYSE:NEM)

KCM Investment Advisors LLC lessened its holdings in Newmont Co. (NYSE:NEM) by 6.4% during the third quarter, Holdings Channel.com reports. The firm owned 10,124 shares of the basic materials company’s stock after selling 695 shares during the quarter. KCM Investment Advisors LLC’s holdings in Newmont were worth $541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hoese & Co LLP purchased a new stake in Newmont in the third quarter worth about $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Newmont during the third quarter valued at approximately $32,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont during the second quarter valued at approximately $27,000. LRI Investments LLC purchased a new stake in shares of Newmont during the first quarter valued at approximately $25,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Newmont during the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The shares were 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 3.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,000 shares of company stock valued at $2,444,440. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Up 0.6 %

Shares of NEM stock opened at $40.91 on Friday. The company has a market capitalization of $46.57 billion, a price-to-earnings ratio of -26.91, a PEG ratio of 0.34 and a beta of 0.51. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company’s fifty day moving average price is $51.11 and its 200-day moving average price is $47.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

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 the consensus estimate of $0.86 by ($0.05). The firm 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 business earned $0.36 earnings per share. Sell-side analysts expect that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.44%. Newmont’s payout ratio is -65.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NEM shares. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Jefferies Financial Group increased their price target on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Raymond James raised their target price on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $54.14.

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.