Moloney Securities Asset Management LLC Trims Stock Holdings in Newmont Co. (NYSE:NEM)

Moloney Securities Asset Management LLC trimmed its holdings in Newmont Co. (NYSE:NEM) by 46.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,879 shares of the basic materials company’s stock after selling 4,170 shares during the period. Moloney Securities Asset Management LLC’s holdings in Newmont were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Catalyst Capital Advisors LLC purchased a new position in shares of Newmont during the 3rd quarter valued at $176,000. Red Cedar Investment Management LLC purchased a new position in shares of Newmont during the 3rd quarter valued at $1,263,000. QRG Capital Management Inc. grew its position in shares of Newmont by 3.5% during the 3rd quarter. QRG Capital Management Inc. now owns 21,005 shares of the basic materials company’s stock valued at $1,123,000 after purchasing an additional 706 shares in the last quarter. Asset Management One Co. Ltd. grew its position in shares of Newmont by 1.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 538,480 shares of the basic materials company’s stock valued at $28,782,000 after purchasing an additional 8,833 shares in the last quarter. Finally, National Pension Service grew its position in shares of Newmont by 27.9% during the 3rd quarter. National Pension Service now owns 2,533,077 shares of the basic materials company’s stock valued at $135,393,000 after purchasing an additional 552,698 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’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 transaction, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’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 transaction, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Performance

Newmont stock opened at $44.48 on Thursday. 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 company has a market capitalization of $50.64 billion, a PE ratio of -29.26, a P/E/G ratio of 0.38 and a beta of 0.51. The firm has a fifty day simple moving average of $52.49 and a two-hundred day simple moving average of $47.30. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. Research analysts expect that Newmont Co. will post 3.12 EPS for the current year.

Newmont Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Raymond James boosted their price target on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. BMO Capital Markets boosted their price target on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Royal Bank of Canada dropped their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Finally, UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $53.85.

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.