TT International Asset Management LTD Has $3.21 Million Stake in Newmont Co. (NYSE:NEM)

TT International Asset Management LTD lowered its stake in shares of Newmont Co. (NYSE:NEM) by 27.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 60,000 shares of the basic materials company’s stock after selling 23,000 shares during the period. TT International Asset Management LTD’s holdings in Newmont were worth $3,207,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Heathbridge Capital Management Ltd. boosted its stake in Newmont by 2.0% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after purchasing an additional 200 shares during the last quarter. E. Ohman J or Asset Management AB lifted its position in shares of Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after buying an additional 200 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of Newmont by 1.5% during the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after buying an additional 221 shares in the last quarter. Carmel Capital Partners LLC lifted its position in shares of Newmont by 4.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after buying an additional 226 shares in the last quarter. Finally, Good Life Advisors LLC lifted its position in shares of Newmont by 4.6% during the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 271,469 shares in the company, 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 at this link. Also, Director Harry M. Iv Conger bought 9,498 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Jefferies Financial Group lifted their target price 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. Royal Bank of Canada dropped their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Raymond James lowered their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Finally, UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

Newmont Stock Down 0.6 %

Newmont stock opened at $41.50 on Wednesday. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The firm has a market capitalization of $47.25 billion, a price-to-earnings ratio of -27.30, a P/E/G ratio of 0.35 and a beta of 0.49. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $47.48 and a 200 day simple moving average of $47.41.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share 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 business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was up 84.7% on a year-over-year basis. On average, analysts predict that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. Newmont’s dividend payout ratio (DPR) is currently -65.79%.

Newmont Company 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.