Thrivent Financial for Lutherans Raises Stake in Newmont Co. (NYSE:NEM)

Thrivent Financial for Lutherans increased its position in shares of Newmont Co. (NYSE:NEM) by 10.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,287 shares of the basic materials company’s stock after acquiring an additional 8,449 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Newmont were worth $4,775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Maj Invest Holding A S boosted its holdings in Newmont by 296.0% in the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock valued at $143,502,000 after purchasing an additional 2,561,823 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Newmont by 2.6% in 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. grew its position in Newmont by 262.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after acquiring an additional 1,096,905 shares during the period. National Bank of Canada FI increased its stake 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 worth $140,460,000 after acquiring an additional 1,088,742 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Newmont by 29.4% in 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 purchasing an additional 1,074,623 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NEM. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Thursday, August 29th. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $59.00 to $55.00 in a report on Friday, October 25th. Finally, Royal Bank of Canada decreased their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.85.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction 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 sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 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 transaction of $1,076,200.00. Following the completion of the transaction, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,000 shares of company stock valued at $2,444,440. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Up 0.1 %

Shares of Newmont stock opened at $43.38 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The company has a market capitalization of $49.39 billion, a P/E ratio of -28.54, a P/E/G ratio of 0.37 and a beta of 0.51. The company has a 50 day moving average of $50.23 and a 200 day moving average of $47.47.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. Newmont’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. As a group, research analysts forecast that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed 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 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%.

Newmont 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.