Newmont Co. (NYSE:NEM) Shares Sold by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd trimmed its holdings in shares of Newmont Co. (NYSE:NEM) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,138 shares of the basic materials company’s stock after selling 1,421 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Newmont were worth $2,392,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in Newmont during the second quarter valued at $27,000. LRI Investments LLC purchased a new position in shares of Newmont during the 1st quarter valued at about $25,000. Heritage Wealth Advisors raised its stake in shares of Newmont by 1,310.4% during the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Newmont in the 1st quarter valued at about $35,000. Finally, Rise Advisors LLC boosted its stake in shares of Newmont by 2,373.2% in the first quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after buying an additional 973 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Peter Toth sold 3,000 shares of the firm’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 owns 94,596 shares in the company, valued at approximately $4,963,452.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,000 shares of company stock valued at $2,744,700. 0.06% of the stock is currently owned by insiders.

Newmont Trading Up 0.0 %

Shares of NEM stock opened at $54.48 on Tuesday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $55.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The stock’s fifty day moving average is $50.25 and its two-hundred day moving average is $43.76. The firm has a market capitalization of $62.82 billion, a P/E ratio of -20.40, a PEG ratio of 0.37 and a beta of 0.49.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. Newmont’s quarterly revenue was up 64.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. Research analysts expect that Newmont Co. will post 2.82 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be given a $0.25 dividend. 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 1.84%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $48.00 to $59.00 in a report on Monday, August 19th. 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 report on Thursday, August 29th. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. BMO Capital Markets lifted their price objective on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, UBS Group upped their price objective on shares of Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.62.

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.