Angeles Investment Advisors LLC Has $688,000 Holdings in Newmont Co. (NYSE:NEM)

Angeles Investment Advisors LLC cut its stake in Newmont Co. (NYSE:NEM) by 15.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,877 shares of the basic materials company’s stock after selling 2,325 shares during the period. Angeles Investment Advisors LLC’s holdings in Newmont were worth $688,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in Newmont during the 1st quarter worth about $25,000. Strategic Financial Concepts LLC bought a new stake in Newmont during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in Newmont during the 2nd quarter worth about $27,000. Hoese & Co LLP bought a new stake in Newmont during the 3rd quarter worth about $27,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Newmont in the 3rd quarter valued at about $32,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NEM stock remained flat at $41.58 during trading hours on Wednesday. 991,236 shares of the stock traded hands, compared to its average volume of 10,447,705. The firm has a 50 day moving average price of $51.73 and a 200 day moving average price of $47.45. The stock has a market cap of $47.34 billion, a PE ratio of -27.36, a PEG ratio of 0.35 and a beta of 0.51. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. 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 (NYSE:NEM) last released its quarterly earnings results 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). The business had revenue of $4.61 billion for 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%. Newmont’s revenue was up 84.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. As a group, equities research analysts expect that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is currently -65.79%.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction 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 owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Thomas Ronald Palmer sold 20,000 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 transaction of $1,076,200.00. Following the completion of the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,000 shares of company stock valued at $2,444,440. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NEM shares. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $59.00 to $55.00 in a report on Friday, October 25th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. BMO Capital Markets upped their price target on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Raymond James upped their price target on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.14.

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.