BNP Paribas Decreases Stock Position in Newmont Co. (NYSE:NEM)

BNP Paribas trimmed its holdings in Newmont Co. (NYSE:NEM) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,406 shares of the basic materials company’s stock after selling 3,053 shares during the period. BNP Paribas’ holdings in Newmont were worth $3,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its stake in shares of Newmont by 8.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 29,642 shares of the basic materials company’s stock worth $1,584,000 after purchasing an additional 2,199 shares in the last quarter. Bridgewater Associates LP increased its position in Newmont by 1,947.6% during the third quarter. Bridgewater Associates LP now owns 711,591 shares of the basic materials company’s stock worth $38,035,000 after buying an additional 676,838 shares in the last quarter. Townsquare Capital LLC raised its holdings in shares of Newmont by 117.7% in the third quarter. Townsquare Capital LLC now owns 23,299 shares of the basic materials company’s stock worth $1,245,000 after acquiring an additional 12,596 shares during the last quarter. Rock Point Advisors LLC purchased a new stake in shares of Newmont in the third quarter valued at $208,000. Finally, Avestar Capital LLC boosted its stake in shares of Newmont by 9.4% during the third quarter. Avestar Capital LLC now owns 5,405 shares of the basic materials company’s stock valued at $289,000 after acquiring an additional 463 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock worth $2,444,440 in the last 90 days. 0.06% of the stock is owned by company insiders.

Newmont Stock Performance

Newmont stock opened at $42.25 on Wednesday. The firm has a fifty day moving average of $49.80 and a 200-day moving average of $47.50. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. 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 (NYSE:NEM) last announced 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). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, analysts predict that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Royal Bank of Canada reduced their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday, August 29th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.31.

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.