Aubrey Capital Management Ltd Lowers Stake in Newmont Co. (NYSE:NEM)

Aubrey Capital Management Ltd decreased its position in Newmont Co. (NYSE:NEM) by 20.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,614 shares of the basic materials company’s stock after selling 3,066 shares during the quarter. Aubrey Capital Management Ltd’s holdings in Newmont were worth $621,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in Newmont during the 1st quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new stake in Newmont in the second quarter valued at $27,000. Hoese & Co LLP purchased a new position in shares of Newmont in the 3rd quarter valued at about $27,000. Finally, Highline Wealth Partners LLC purchased a new stake in Newmont during the third quarter worth about $32,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank of Canada decreased their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Jefferies Financial Group boosted their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

Newmont Trading Down 0.8 %

NEM stock opened at $41.23 on Thursday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The business has a fifty day moving average price of $51.52 and a 200 day moving average price of $47.41. The stock has a market capitalization of $46.94 billion, a price-to-earnings ratio of -27.12, a P/E/G ratio of 0.34 and a beta of 0.51. 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 issued its earnings results 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 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. Analysts expect that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is -65.79%.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is currently owned by corporate insiders.

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.