Principal Financial Group Inc. lowered its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,354,841 shares of the basic materials company's stock after selling 74,378 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Newmont worth $72,416,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Avior Wealth Management LLC lifted its position in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after buying an additional 326 shares in the last quarter. Hoese & Co LLP purchased a new position in Newmont during the third quarter valued at $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Newmont in the third quarter valued at about $28,000. Highline Wealth Partners LLC purchased a new stake in shares of Newmont during the third quarter worth about $32,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Newmont during the 2nd quarter worth about $27,000. 68.85% of the stock is owned by institutional investors and hedge funds.
NEM stock opened at $38.28 on Friday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a market cap of $43.58 billion, a price-to-earnings ratio of -25.18, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. The business has a fifty day moving average of $45.03 and a two-hundred day moving average of $47.25.
Newmont (NYSE:NEM - Get Free Report) 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 analysts' consensus estimates 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 business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period in the previous year, the business posted $0.36 earnings per share. The firm's revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, research analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.61%. Newmont's dividend payout ratio is currently -65.79%.
In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business's stock in a transaction dated 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 in the company, valued at $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 directly owns 91,596 shares of the company's stock, valued at approximately $4,928,780.76. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.
Several research firms recently issued reports on NEM. Raymond James lowered their price objective on Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, November 25th. Cibc World Mkts cut Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Royal Bank of Canada reduced their price objective on Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a research note on Thursday, October 24th. Jefferies Financial Group lifted their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. Finally, CIBC cut shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Newmont has an average rating of "Moderate Buy" and an average price target of $54.31.
View Our Latest Research Report on 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.
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