Mirador Capital Partners LP Reduces Stake in Newmont Co. (NYSE:NEM)

Mirador Capital Partners LP lessened its holdings in Newmont Co. (NYSE:NEM) by 3.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,437 shares of the basic materials company’s stock after selling 228 shares during the period. Mirador Capital Partners LP’s holdings in Newmont were worth $397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NEM. Vanguard Group Inc. raised its holdings in Newmont by 43.8% in the 4th quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock worth $4,915,059,000 after purchasing an additional 36,170,995 shares in the last quarter. Maj Invest Holding A S lifted its holdings in Newmont by 296.0% in the second quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after buying an additional 2,561,823 shares during the period. Capital International Investors purchased a new position in shares of Newmont during the 1st quarter worth approximately $49,444,000. Van ECK Associates Corp raised its position in shares of Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after acquiring an additional 1,289,084 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Newmont by 47.7% in the 2nd quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock valued at $140,460,000 after purchasing an additional 1,088,742 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NEM shares. UBS Group lifted their price target on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Jefferies Financial Group increased their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, BMO Capital Markets raised their price objective on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $53.31.

Newmont Stock Up 0.3 %

Shares of Newmont stock opened at $53.34 on Friday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $56.30. The company has a 50 day moving average of $51.51 and a 200 day moving average of $44.96. 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 company has a market capitalization of $61.51 billion, a P/E ratio of -19.98, a P/E/G ratio of 0.47 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The firm’s revenue was up 64.1% compared to the same quarter last year. As a group, research analysts forecast that Newmont Co. will post 2.88 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were given a $0.25 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. Newmont’s dividend payout ratio is presently -37.45%.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business’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 $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 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 transaction of $1,076,200.00. Following the sale, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,000 shares of company stock valued at $3,434,640. Insiders own 0.06% of the company’s stock.

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.