XML Financial LLC Has $2.26 Million Holdings in Newmont Co. (NYSE:NEM)

XML Financial LLC reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 8.4% in the third quarter, HoldingsChannel.com reports. The fund owned 42,315 shares of the basic materials company’s stock after selling 3,890 shares during the quarter. XML Financial LLC’s holdings in Newmont were worth $2,262,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Empowered Funds LLC boosted its holdings in shares of Newmont by 102.9% during the 1st quarter. Empowered Funds LLC now owns 25,453 shares of the basic materials company’s stock worth $912,000 after buying an additional 12,908 shares in the last quarter. Forsta AP Fonden grew its holdings in Newmont by 9.6% in the first quarter. Forsta AP Fonden now owns 252,100 shares of the basic materials company’s stock worth $9,035,000 after purchasing an additional 22,100 shares during the period. Atomi Financial Group Inc. bought a new stake in Newmont in the first quarter valued at $316,000. Sei Investments Co. raised its holdings in shares of Newmont by 67.5% during the first quarter. Sei Investments Co. now owns 203,859 shares of the basic materials company’s stock valued at $7,307,000 after purchasing an additional 82,165 shares during the period. Finally, Meeder Advisory Services Inc. boosted its position in shares of Newmont by 3.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 278 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

Shares of NYSE NEM opened at $45.04 on Friday. The company has a market capitalization of $51.28 billion, a PE ratio of -29.63, a PEG ratio of 0.37 and a beta of 0.51. 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 stock’s 50 day moving average price is $52.17 and its 200-day moving average price is $47.34. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion during 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. On average, equities analysts anticipate that Newmont Co. will post 3.15 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio is -65.79%.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s 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 completion of the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated 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 sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NEM. Raymond James boosted their target price on Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $59.00 to $55.00 in a research note on Friday, October 25th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.85.

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.