Toronto Dominion Bank Has $40 Million Position in Newmont Co. (NYSE:NEM)

Toronto Dominion Bank boosted its stake in shares of Newmont Co. (NYSE:NEM) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 748,420 shares of the basic materials company’s stock after buying an additional 14,251 shares during the quarter. Toronto Dominion Bank owned approximately 0.07% of Newmont worth $40,003,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in 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 worth $2,131,939,000 after buying an additional 1,289,084 shares during the period. Geode Capital Management LLC lifted its stake in shares of Newmont by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after purchasing an additional 326,243 shares during the period. Legal & General Group Plc lifted 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 valued at $337,909,000 after purchasing an additional 109,084 shares during the period. FMR LLC lifted its stake in shares of Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after purchasing an additional 1,226,697 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Newmont by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after purchasing an additional 545,903 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Up 2.0 %

NEM opened at $42.31 on Thursday. The stock has a market cap of $48.16 billion, a PE ratio of -27.83, a P/E/G ratio of 0.35 and a beta of 0.49. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The business’s fifty day simple moving average is $47.23 and its 200 day simple moving average is $47.41.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue was up 84.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. As a group, research analysts expect that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.36%. Newmont’s dividend payout ratio is presently -65.79%.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the 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 completion of the sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was 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 owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent analyst reports. CLSA started coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Thursday, August 29th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, Jefferies Financial Group boosted their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.31.

Newmont Company 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.