First Trust Direct Indexing L.P. Has $1.63 Million Position in Newmont Co. (NYSE:NEM)

First Trust Direct Indexing L.P. boosted its stake in shares of Newmont Co. (NYSE:NEM) by 13.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,571 shares of the basic materials company’s stock after buying an additional 3,676 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Newmont were worth $1,634,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. LRI Investments LLC bought a new position in shares of Newmont in the 1st quarter worth about $25,000. Strategic Financial Concepts LLC bought a new stake in Newmont in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. bought a new stake in Newmont in the 2nd quarter valued at about $27,000. Hoese & Co LLP bought a new stake in Newmont in the 3rd quarter valued at about $27,000. Finally, Highline Wealth Partners LLC bought a new stake in Newmont in the 3rd quarter valued at about $32,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Down 3.2 %

Shares of NEM stock opened at $45.45 on Friday. The company’s fifty day simple moving average is $53.04 and its two-hundred day simple moving average is $47.05. 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 Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The stock has a market capitalization of $51.74 billion, a price-to-earnings ratio of -29.90, a PEG ratio of 0.40 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) 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 business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm earned $0.36 EPS. The company’s revenue was up 84.7% compared to the same quarter last year. As a group, analysts anticipate that Newmont Co. will post 3.13 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.20%. Newmont’s payout ratio is currently -65.79%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $59.00 to $55.00 in a research report on Friday, October 25th. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday. Veritas raised Newmont to a “strong-buy” rating in a report on Monday, September 30th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and cut their target price for the stock from $67.00 to $54.00 in a research note on Wednesday. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.85.

Newmont Company 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.