Aubrey Capital Management Ltd Lowers Position in Newmont Co. (NYSE:NEM)

Aubrey Capital Management Ltd lowered its stake in shares of Newmont Co. (NYSE:NEM) by 20.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,614 shares of the basic materials company’s stock after selling 3,066 shares during the quarter. Aubrey Capital Management Ltd’s holdings in Newmont were worth $621,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Empowered Funds LLC lifted its position in Newmont by 102.9% in the 1st quarter. Empowered Funds LLC now owns 25,453 shares of the basic materials company’s stock worth $912,000 after buying an additional 12,908 shares during the last quarter. Sei Investments Co. increased its position in Newmont by 67.5% during the 1st quarter. Sei Investments Co. now owns 203,859 shares of the basic materials company’s stock valued at $7,307,000 after purchasing an additional 82,165 shares during the period. US Bancorp DE lifted its holdings in Newmont by 12.0% in the first quarter. US Bancorp DE now owns 138,203 shares of the basic materials company’s stock worth $4,953,000 after buying an additional 14,857 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Newmont by 21.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,401,576 shares of the basic materials company’s stock valued at $50,232,000 after purchasing an additional 246,233 shares during the period. Finally, Blair William & Co. IL raised its holdings in Newmont by 4.4% in the first quarter. Blair William & Co. IL now owns 31,636 shares of the basic materials company’s stock worth $1,134,000 after purchasing an additional 1,339 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NYSE:NEM opened at $41.23 on Thursday. The business has a 50-day simple moving average of $51.52 and a two-hundred day simple moving average of $47.41. 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 has a market cap of $46.94 billion, a price-to-earnings ratio of -27.12, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last issued 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). The company had revenue of $4.61 billion for 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%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter last year, the company earned $0.36 EPS. On average, analysts expect that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.43%. Newmont’s dividend payout ratio is currently -65.79%.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’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 transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’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 sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 in the last quarter. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on NEM shares. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday. Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Raymond James boosted their price target on Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $59.00 to $55.00 in a research report on Friday, October 25th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.