Harvest Portfolios Group Inc. Has $644,000 Stock Position in Newmont Co. (NYSE:NEM)

Harvest Portfolios Group Inc. reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 10.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,046 shares of the basic materials company’s stock after selling 1,449 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Newmont were worth $644,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NEM. Vanguard Group Inc. raised its holdings in Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after acquiring an additional 16,190,422 shares in the last quarter. Van ECK Associates Corp lifted its stake in Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after acquiring an additional 1,289,084 shares during the last quarter. Legal & General Group Plc increased its stake 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in Newmont by 8.6% in 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 grew its holdings in Newmont by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock worth $175,872,000 after purchasing an additional 313,736 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on NEM shares. Veritas raised Newmont to a “strong-buy” rating in a report on Monday, September 30th. Raymond James upped their price objective on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada reduced their target price 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. BMO Capital Markets increased their price target on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.85.

Insider Activity at Newmont

In other 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 transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This represents 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 other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock valued at $2,444,440 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

NEM stock opened at $44.48 on Thursday. The company’s 50-day moving average price is $52.49 and its two-hundred day moving average price is $47.30. The firm has a market cap of $50.64 billion, a P/E ratio of -29.26, a P/E/G ratio of 0.38 and a beta of 0.51. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, analysts anticipate that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.25%. Newmont’s dividend payout ratio 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.