Northwestern Mutual Wealth Management Co. Reduces Position in Newmont Co. (NYSE:NEM)

Northwestern Mutual Wealth Management Co. cut its stake in shares of Newmont Co. (NYSE:NEM) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,315 shares of the basic materials company’s stock after selling 517 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Newmont were worth $599,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Pekin Hardy Strauss Inc. grew its holdings in shares of Newmont by 0.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 64,082 shares of the basic materials company’s stock valued at $2,683,000 after buying an additional 233 shares during the last quarter. KCM Investment Advisors LLC boosted its holdings in Newmont by 2.3% in the second quarter. KCM Investment Advisors LLC now owns 10,819 shares of the basic materials company’s stock valued at $453,000 after purchasing an additional 244 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in Newmont by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 278 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in Newmont by 1.7% in the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock valued at $647,000 after purchasing an additional 296 shares during the last quarter. Finally, Crestmont Private Wealth LLC boosted its holdings in Newmont by 4.9% in the first quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock valued at $246,000 after purchasing an additional 319 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at $15,420,830.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont 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 sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,000 shares of company stock worth $3,434,640. Insiders own 0.06% of the company’s stock.

Newmont Stock Down 0.7 %

NEM stock opened at $52.97 on Tuesday. 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 firm has a 50-day moving average of $51.51 and a two-hundred day moving average of $45.03. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $56.30. The company has a market cap of $61.08 billion, a price-to-earnings ratio of -19.84, a PEG ratio of 0.47 and a beta of 0.50.

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

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio is currently -37.45%.

Wall Street Analyst Weigh In

Several research firms have commented on NEM. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and upped their price target for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $48.00 to $59.00 in a research report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.31.

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.