Healthcare of Ontario Pension Plan Trust Fund Sells 339,800 Shares of Newmont Co. (NYSE:NEM)

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in Newmont Co. (NYSE:NEM) by 54.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 290,000 shares of the basic materials company’s stock after selling 339,800 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Newmont were worth $15,500,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC grew its position in shares of Newmont by 19.1% during the 1st quarter. Janus Henderson Group PLC now owns 341,907 shares of the basic materials company’s stock worth $12,256,000 after buying an additional 54,761 shares in the last quarter. LRI Investments LLC bought a new position in shares of Newmont during the 1st quarter worth $25,000. Swedbank AB bought a new position in shares of Newmont during the 1st quarter worth $29,788,000. Cetera Investment Advisers grew its position in shares of Newmont by 990.2% during the 1st quarter. Cetera Investment Advisers now owns 205,894 shares of the basic materials company’s stock worth $7,379,000 after buying an additional 187,008 shares in the last quarter. Finally, Cetera Advisors LLC grew its position in shares of Newmont by 30.3% during the 1st quarter. Cetera Advisors LLC now owns 21,464 shares of the basic materials company’s stock worth $769,000 after buying an additional 4,987 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM stock opened at $42.04 on Friday. The stock’s 50-day simple moving average is $49.35 and its 200-day simple moving average is $47.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share 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 analyst estimates 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 for the quarter was up 84.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. On average, analysts forecast that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The company 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is presently -65.79%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Bernstein Bank increased their price target on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. Finally, Veritas upgraded Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.31.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was 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 of the company’s stock, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,000 shares of company stock valued at $2,444,440. Company insiders own 0.06% of the company’s stock.

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.