Harvest Fund Management Co. Ltd Acquires 14,391 Shares of Newmont Co. (NYSE:NEM)

Harvest Fund Management Co. Ltd increased its holdings in Newmont Co. (NYSE:NEM) by 662.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,563 shares of the basic materials company’s stock after purchasing an additional 14,391 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Newmont were worth $885,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NEM. Maj Invest Holding A S increased its position in Newmont by 296.0% in the second quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after purchasing an additional 2,561,823 shares during the last quarter. Van ECK Associates Corp increased its position in Newmont by 2.6% during the second 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 during the last quarter. Assenagon Asset Management S.A. increased its position in Newmont by 262.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after acquiring an additional 1,096,905 shares during the last quarter. National Bank of Canada FI increased its position in Newmont by 47.7% during the second quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock valued at $140,460,000 after acquiring an additional 1,088,742 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in Newmont by 29.4% during the second 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 acquiring an additional 1,074,623 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other Newmont news, 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 of the company’s stock, valued at approximately $14,607,746.89. This trade represents a 6.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $2,444,440 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NEM stock opened at $42.46 on Tuesday. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The firm has a market cap of $48.34 billion, a price-to-earnings ratio of -27.93, a PEG ratio of 0.38 and a beta of 0.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a 50-day simple moving average of $50.01 and a two-hundred day simple moving average of $47.51.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the business posted $0.36 earnings per share. The firm’s quarterly revenue was up 84.7% on a year-over-year basis. On average, equities analysts forecast that Newmont Co. will post 3.09 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NEM shares. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Royal Bank of Canada cut their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

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.