Commerce Bank Has $1.69 Million Position in Newmont Co. (NYSE:NEM)

Commerce Bank lessened its stake in shares of Newmont Co. (NYSE:NEM) by 16.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,543 shares of the basic materials company’s stock after selling 6,429 shares during the period. Commerce Bank’s holdings in Newmont were worth $1,686,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp raised its holdings 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 worth $2,131,939,000 after acquiring an additional 1,289,084 shares during the period. Legal & General Group Plc grew its position in shares of Newmont by 1.4% in the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after purchasing an additional 109,084 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Newmont by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after purchasing an additional 545,903 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Newmont by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock worth $175,872,000 after purchasing an additional 313,736 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Newmont by 29.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock valued at $197,976,000 after purchasing an additional 1,074,623 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada cut their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Bernstein Bank increased their price target on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.85.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business’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 transaction of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock valued at $2,444,440 over the last 90 days. 0.06% of the stock is owned by company insiders.

Newmont Stock Performance

Newmont stock opened at $43.38 on Friday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The stock has a 50-day simple moving average of $50.23 and a 200 day simple moving average of $47.47. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $49.39 billion, a price-to-earnings ratio of -28.54, a P/E/G ratio of 0.37 and a beta of 0.51.

Newmont (NYSE:NEM) last released its quarterly 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). 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 for the quarter, compared to the consensus estimate of $4.67 billion. During the same period last year, the company earned $0.36 earnings per share. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, research analysts anticipate that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.31%. Newmont’s payout ratio is currently -65.79%.

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.