Rockefeller Capital Management L.P. Sells 10,827 Shares of Newmont Co. (NYSE:NEM)

Rockefeller Capital Management L.P. cut its stake in shares of Newmont Co. (NYSE:NEM) by 2.7% in the third quarter, Holdings Channel reports. The fund owned 385,658 shares of the basic materials company’s stock after selling 10,827 shares during the period. Rockefeller Capital Management L.P.’s holdings in Newmont were worth $20,613,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in Newmont during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new position in Newmont in the second quarter worth $27,000. Hoese & Co LLP bought a new stake in shares of Newmont during the third quarter worth $27,000. Avior Wealth Management LLC increased its stake in shares of Newmont by 191.8% in the third 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. Finally, Prospera Private Wealth LLC bought a new position in shares of Newmont in the third quarter valued at about $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Royal Bank of Canada lowered their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Thursday, August 29th. Finally, Scotiabank downgraded Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on 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 directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This represents a 6.86 % 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.

Newmont Stock Performance

Shares of NEM stock opened at $41.94 on Monday. The stock has a market cap of $47.75 billion, a PE ratio of -27.59, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51. The stock has a 50-day moving average of $49.09 and a 200-day moving average of $47.49. 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 one year low of $29.42 and a one year high of $58.72.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate 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 for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. As a group, sell-side analysts expect that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

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 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%.

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.