LGT Capital Partners LTD. Sells 120,460 Shares of Newmont Co. (NYSE:NEM)

LGT Capital Partners LTD. reduced its stake in Newmont Co. (NYSE:NEM) by 85.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,050 shares of the basic materials company’s stock after selling 120,460 shares during the period. LGT Capital Partners LTD.’s holdings in Newmont were worth $1,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Hoese & Co LLP bought a new stake in Newmont during the third quarter worth $27,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont during the third quarter worth $32,000. Meeder Asset Management Inc. acquired a new position in shares of Newmont during the second quarter worth $27,000. LRI Investments LLC acquired a new position in shares of Newmont during the first quarter worth $25,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Newmont during the third quarter worth $48,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

Shares of NYSE NEM opened at $42.36 on Tuesday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The stock has a market cap of $48.22 billion, a price-to-earnings ratio of -27.86, a PEG ratio of 0.34 and a beta of 0.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm’s 50-day simple moving average is $50.94 and its 200 day simple moving average is $47.45.

Newmont (NYSE:NEM) last announced 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). 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%. Newmont’s revenue was up 84.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. As a group, research analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Announces Dividend

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 paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.36%. Newmont’s dividend payout ratio (DPR) is -65.79%.

Insider Buying and Selling at Newmont

In other Newmont news, 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 sale, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 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 transaction of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 46,000 shares of company stock worth $2,444,440. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of several research analyst reports. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada decreased their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. BMO Capital Markets increased their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday. Finally, UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.14.

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.