Xponance Inc. Sells 2,698 Shares of Newmont Co. (NYSE:NEM)

Xponance Inc. cut its holdings in shares of Newmont Co. (NYSE:NEM) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 184,326 shares of the basic materials company’s stock after selling 2,698 shares during the period. Xponance Inc.’s holdings in Newmont were worth $7,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NEM. Vanguard Group Inc. lifted its holdings in shares of Newmont by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after purchasing 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 buying an additional 1,289,084 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Newmont by 39.8% in the first quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock valued at $832,354,000 after buying an additional 6,617,145 shares during the period. Northern Trust Corp increased its position in shares of Newmont by 25.9% during the fourth quarter. Northern Trust Corp now owns 12,988,497 shares of the basic materials company’s stock worth $537,594,000 after acquiring an additional 2,671,774 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after acquiring an additional 545,903 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. UBS Group lifted their target price on Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. BMO Capital Markets upped their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. Finally, Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $52.62.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now directly owns 331,469 shares in the company, valued at $13,964,788.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,000 shares of company stock valued at $2,744,700. 0.06% of the stock is owned by insiders.

Newmont Stock Performance

NEM opened at $54.48 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The stock has a market cap of $62.82 billion, a price-to-earnings ratio of -20.40, a PEG ratio of 0.37 and a beta of 0.49. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $55.67. The business has a 50 day moving average of $50.25 and a 200-day moving average of $43.76.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company’s quarterly revenue was up 64.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. On average, equities research analysts expect that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio is presently -37.45%.

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.