V Square Quantitative Management LLC Sells 261 Shares of Newmont Co. (NYSE:NEM)

V Square Quantitative Management LLC lowered its stake in Newmont Co. (NYSE:NEM) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,565 shares of the basic materials company’s stock after selling 261 shares during the quarter. V Square Quantitative Management LLC’s holdings in Newmont were worth $939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in NEM. LRI Investments LLC purchased a new stake in shares of Newmont in the first quarter worth about $25,000. Strategic Financial Concepts LLC purchased a new stake in Newmont in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in Newmont in the 2nd quarter valued at $27,000. Hoese & Co LLP purchased a new position in shares of Newmont during the 3rd quarter valued at $27,000. Finally, Heritage Wealth Advisors increased its holdings in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 878 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on NEM. BMO Capital Markets boosted their target price on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and increased their price target for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. Finally, Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $48.00 to $59.00 in a report on Monday, August 19th. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.46.

Newmont Price Performance

Shares of Newmont stock opened at $57.62 on Friday. The stock has a market capitalization of $66.44 billion, a P/E ratio of -21.58, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50. Newmont Co. has a one year low of $29.42 and a one year high of $57.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The business’s 50 day simple moving average is $52.88 and its two-hundred day simple moving average is $46.26.

Newmont (NYSE:NEM) last issued its 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. The company 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 firm’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. Analysts forecast that Newmont Co. will post 3.1 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. Newmont’s dividend payout ratio is currently -37.45%.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’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 $1,076,200.00. Following the completion of the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock valued at $3,434,640 over the last ninety days. 0.06% of the stock is owned by insiders.

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.