Financial Counselors Inc. Sells 422 Shares of Newmont Co. (NYSE:NEM)

Financial Counselors Inc. trimmed its stake in Newmont Co. (NYSE:NEM) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,260 shares of the basic materials company’s stock after selling 422 shares during the period. Financial Counselors Inc.’s holdings in Newmont were worth $4,183,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of Newmont in the 1st quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new position in Newmont in the second quarter valued at about $25,000. Meeder Asset Management Inc. bought a new stake in Newmont during the second quarter worth about $27,000. Hoese & Co LLP bought a new stake in Newmont during the third quarter worth about $27,000. Finally, Avior Wealth Management LLC increased its holdings in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 0.1 %

NYSE:NEM opened at $42.04 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The firm has a market capitalization of $47.86 billion, a price-to-earnings ratio of -27.66, a PEG ratio of 0.36 and a beta of 0.51. The business’s 50-day moving average price is $49.35 and its two-hundred day moving average price is $47.43.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share 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 the consensus estimate of $4.67 billion. During the same period in the previous year, the business earned $0.36 EPS. The firm’s revenue was up 84.7% compared to the same quarter last year. On average, equities analysts expect that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.38%. Newmont’s dividend payout ratio is presently -65.79%.

Analyst Ratings Changes

A number of research firms recently commented on NEM. Royal Bank of Canada decreased their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

Insider Buying and Selling at Newmont

In related 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 of the company’s stock, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,000 shares of company stock valued at $2,444,440. Company 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.