Lindbrook Capital LLC Decreases Stock Holdings in Newmont Co. (NYSE:NEM)

Lindbrook Capital LLC lessened its stake in shares of Newmont Co. (NYSE:NEM) by 4.8% during the third quarter, HoldingsChannel.com reports. The fund owned 5,042 shares of the basic materials company’s stock after selling 257 shares during the quarter. Lindbrook Capital LLC’s holdings in Newmont were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Newmont by 13.6% in the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after purchasing an additional 16,190,422 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Newmont by 2.6% during the 2nd 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 during the period. Legal & General Group Plc boosted its stake in shares of Newmont by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock worth $337,909,000 after buying an additional 109,084 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Newmont by 8.6% in 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. Finally, Price T Rowe Associates Inc. MD increased its position in Newmont by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock valued at $175,872,000 after acquiring an additional 313,736 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Down 0.3 %

Newmont stock opened at $45.04 on Monday. The stock has a market cap of $51.28 billion, a P/E ratio of -29.63, a PEG ratio of 0.37 and a beta of 0.51. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm’s 50 day moving average price is $52.17 and its 200-day moving average price is $47.40.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period last year, the company earned $0.36 earnings per share. The firm’s revenue was up 84.7% on a year-over-year basis. On average, equities analysts predict that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NEM. Veritas upgraded Newmont to a “strong-buy” rating in a research note on Monday, September 30th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Raymond James lifted their price target on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. Nine research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.85.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 0.00 % decrease in their position. 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 ninety days. Insiders own 0.06% of the company’s stock.

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.