Point72 Asia Singapore Pte. Ltd. Acquires 19,382 Shares of Newmont Co. (NYSE:NEM)

Point72 Asia Singapore Pte. Ltd. grew its holdings in Newmont Co. (NYSE:NEM) by 890.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,559 shares of the basic materials company’s stock after acquiring an additional 19,382 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Newmont were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new stake in shares of Newmont in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont in the second quarter valued at approximately $27,000. Hoese & Co LLP bought a new stake in shares of Newmont in the third quarter valued at approximately $27,000. Avior Wealth Management LLC raised its stake in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of Newmont in the third quarter valued at $28,000. 68.85% of the stock is owned by institutional investors.

Newmont Trading Down 0.2 %

NYSE NEM opened at $41.94 on Monday. The firm has a market cap of $47.75 billion, a P/E ratio of -27.59, a P/E/G ratio of 0.36 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. The stock’s 50-day moving average is $49.09 and its 200-day moving average is $47.49. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Newmont (NYSE:NEM) last announced its earnings results 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). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period in the prior year, the business posted $0.36 EPS. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. Sell-side analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is presently -65.79%.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. The trade was a 6.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent research reports. Royal Bank of Canada cut their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. CLSA initiated coverage on Newmont in a research note on Friday. They issued an “underperform” rating for the company. Veritas upgraded Newmont to a “strong-buy” rating in a research note on Monday, September 30th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and cut their target price for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.31.

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.