Sentry Investment Management LLC Lowers Position in Newmont Co. (NYSE:NEM)

Sentry Investment Management LLC reduced its stake in Newmont Co. (NYSE:NEM) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,594 shares of the basic materials company’s stock after selling 357 shares during the period. Sentry Investment Management LLC’s holdings in Newmont were worth $234,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in shares of Newmont in the 1st quarter valued at approximately $25,000. Strategic Financial Concepts LLC purchased a new stake in Newmont in the second quarter valued at approximately $25,000. Manchester Capital Management LLC lifted its stake in Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 397 shares in the last quarter. Heritage Wealth Advisors boosted its position in shares of Newmont by 1,310.4% during the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in shares of Newmont in the first quarter valued at $35,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NEM shares. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $48.00 to $59.00 in a report on Monday, August 19th. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $50.00 in a report on Monday, June 17th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Finally, CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and increased their price objective for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.46.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The disclosure for this sale can be found here. Insiders sold 56,000 shares of company stock worth $2,744,700 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Newmont Trading Down 1.1 %

NYSE:NEM opened at $50.74 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $53.88. The stock has a market cap of $58.51 billion, a P/E ratio of -19.00, a P/E/G ratio of 0.37 and a beta of 0.49. The stock has a 50-day simple moving average of $48.95 and a 200-day simple moving average of $42.46.

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

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.97%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

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.