Mn Services Vermogensbeheer B.V. Cuts Position in Newmont Co. (NYSE:NEM)

Mn Services Vermogensbeheer B.V. trimmed its position in shares of Newmont Co. (NYSE:NEM) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452,880 shares of the basic materials company’s stock after selling 13,100 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Newmont were worth $18,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEM. LRI Investments LLC purchased a new stake in Newmont during the first quarter valued at $25,000. Manchester Capital Management LLC raised its position in shares of Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after buying an additional 397 shares in the last quarter. Heritage Wealth Advisors lifted its holdings in shares of Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 878 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Newmont in the 1st quarter valued at about $35,000. Finally, Rise Advisors LLC grew its position in Newmont by 2,373.2% in the first quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 973 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Up 1.2 %

Shares of NEM stock traded up $0.63 during trading hours on Friday, reaching $52.04. 4,569,348 shares of the company’s stock were exchanged, compared to its average volume of 10,794,514. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The company has a market cap of $60.01 billion, a price-to-earnings ratio of -19.49, a P/E/G ratio of 0.37 and a beta of 0.47. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $52.40. The stock’s 50 day moving average is $46.36 and its 200-day moving average is $40.72.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. Analysts predict that Newmont Co. will post 2.76 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, September 5th. Newmont’s payout ratio is currently -37.45%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NEM. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and raised their price objective for the company from $40.00 to $50.00 in a research note on Monday, June 17th. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $48.00 to $59.00 in a report on Monday, August 19th. Finally, Bank of America upped their target price on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.92.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

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.