Hussman Strategic Advisors Inc. Lowers Holdings in Newmont Co. (NYSE:NEM)

Hussman Strategic Advisors Inc. lowered its holdings in Newmont Co. (NYSE:NEM) by 64.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,600 shares of the basic materials company’s stock after selling 147,900 shares during the quarter. Newmont accounts for 0.9% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 16th largest holding. Hussman Strategic Advisors Inc.’s holdings in Newmont were worth $3,417,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Newmont by 13.6% in the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after purchasing an additional 16,190,422 shares during the period. Van ECK Associates Corp grew its position in Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after acquiring an additional 1,289,084 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Newmont by 44.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock worth $1,019,813,000 after purchasing an additional 7,635,657 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Newmont by 29.9% in the fourth quarter. First Eagle Investment Management LLC now owns 23,756,158 shares of the basic materials company’s stock valued at $983,267,000 after purchasing an additional 5,475,155 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Newmont by 39.8% in the first quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock valued at $832,354,000 after purchasing an additional 6,617,145 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

NEM traded up $0.21 during trading on Friday, hitting $53.39. 8,672,495 shares of the stock were exchanged, compared to its average volume of 6,420,627. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $53.88. The stock has a fifty day moving average price of $47.43 and a two-hundred day moving average price of $41.40. The firm has a market capitalization of $61.26 billion, a P/E ratio of -20.00, a PEG ratio of 0.39 and a beta of 0.47.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. As a group, sell-side analysts predict that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. Newmont’s dividend payout ratio (DPR) is -37.45%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NEM shares. Sanford C. Bernstein decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday, May 16th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Thursday. BNP Paribas upgraded Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Finally, Bank of America upped their target price on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

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.