Cox Capital Mgt LLC Has $3.64 Million Position in Newmont Co. (NYSE:NEM)

Cox Capital Mgt LLC lessened its holdings in Newmont Co. (NYSE:NEM) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 68,005 shares of the basic materials company’s stock after selling 1,976 shares during the quarter. Newmont comprises approximately 2.2% of Cox Capital Mgt LLC’s portfolio, making the stock its 16th largest holding. Cox Capital Mgt LLC’s holdings in Newmont were worth $3,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Newmont by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after buying an additional 16,190,422 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after purchasing an additional 1,289,084 shares during the last quarter. Legal & General Group Plc increased its position in shares of Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock worth $337,909,000 after purchasing an additional 109,084 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Newmont by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after purchasing an additional 545,903 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Newmont by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock valued at $175,872,000 after buying an additional 313,736 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NEM shares. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 29th. Jefferies Financial Group increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. UBS Group boosted their target price on shares of Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.31.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock worth $3,434,640 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Up 1.7 %

Shares of NYSE:NEM traded up $0.90 during mid-day trading on Friday, reaching $54.30. The stock had a trading volume of 7,422,929 shares, compared to its average volume of 10,260,595. The firm has a market cap of $62.31 billion, a PE ratio of -25.61, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50. The firm has a 50 day simple moving average of $52.00 and a two-hundred day simple moving average of $45.54. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $56.30.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the firm posted $0.33 earnings per share. The business’s quarterly revenue was up 64.1% compared to the same quarter last year. On average, research analysts predict that Newmont Co. will post 3.1 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.84%. Newmont’s payout ratio is -47.17%.

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.