Robeco Institutional Asset Management B.V. Sells 187,092 Shares of Newmont Co. (NYSE:NEM)

Robeco Institutional Asset Management B.V. reduced its stake in shares of Newmont Co. (NYSE:NEM – Get Rating) by 41.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,988 shares of the basic materials company’s stock after selling 187,092 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Newmont were worth $10,924,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cowa LLC bought a new position in Newmont during the third quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. bought a new position in Newmont during the third quarter valued at about $34,000. Avion Wealth raised its holdings in Newmont by 4,664.7% during the third quarter. Avion Wealth now owns 810 shares of the basic materials company’s stock valued at $34,000 after buying an additional 793 shares in the last quarter. Laffer Tengler Investments bought a new position in shares of Newmont in the first quarter worth about $74,000. Finally, Central Bank & Trust Co. increased its stake in shares of Newmont by 56.7% in the third quarter. Central Bank & Trust Co. now owns 953 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 345 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Newmont Stock Up 5.2 %

NYSE NEM opened at $48.17 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $48.39 and its two-hundred day moving average is $45.80. The company has a market capitalization of $38.27 billion, a price-to-earnings ratio of -89.20, a PEG ratio of 1.77 and a beta of 0.31. Newmont Co. has a 1-year low of $37.45 and a 1-year high of $86.37.

Newmont (NYSE:NEM – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.03). Newmont had a negative net margin of 3.60% and a positive return on equity of 6.98%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities analysts forecast that Newmont Co. will post 2.24 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Wednesday, March 8th. Newmont’s dividend payout ratio (DPR) is currently -296.29%.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total value of $530,530.00. Following the completion of the transaction, the chief executive officer now owns 199,949 shares in the company, valued at $9,643,540.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total value of $530,530.00. Following the completion of the transaction, the chief executive officer now owns 199,949 shares in the company, valued at approximately $9,643,540.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $44.25, for a total transaction of $132,750.00. Following the completion of the transaction, the chief operating officer now owns 87,751 shares of the company’s stock, valued at approximately $3,882,981.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,000 shares of company stock worth $1,294,720. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NEM. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $59.00 to $53.00 in a research note on Tuesday, February 14th. National Bank Financial lifted their price objective on Newmont from C$76.00 to C$86.00 in a research note on Friday, January 13th. TD Securities upgraded Newmont from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Friday, February 24th. Canaccord Genuity Group upgraded Newmont from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $53.00 to $55.00 in a research note on Monday, March 13th. Finally, Raymond James decreased their target price on Newmont from $61.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $62.21.

Newmont Company Profile

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Newmont Corp. is a gold producer, engages in the exploration and acquisition of gold properties, contains copper, silver, lead, zinc or other metals. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.