Livingston Group Asset Management CO operating as Southport Capital Management Reduces Stock Holdings in Newmont Co. (NYSE:NEM)

Livingston Group Asset Management CO operating as Southport Capital Management decreased its stake in Newmont Co. (NYSE:NEM) by 16.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,536 shares of the basic materials company’s stock after selling 3,582 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Newmont were worth $1,007,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in NEM. Atlas Capital Advisors LLC raised its position in shares of Newmont by 3.6% in the 2nd quarter. Atlas Capital Advisors LLC now owns 5,190 shares of the basic materials company’s stock worth $329,000 after acquiring an additional 180 shares in the last quarter. Berman Capital Advisors LLC raised its position in shares of Newmont by 6.3% in the 3rd quarter. Berman Capital Advisors LLC now owns 3,207 shares of the basic materials company’s stock worth $174,000 after acquiring an additional 191 shares in the last quarter. MBA Advisors LLC raised its position in shares of Newmont by 5.3% in the 2nd quarter. MBA Advisors LLC now owns 3,819 shares of the basic materials company’s stock worth $242,000 after acquiring an additional 193 shares in the last quarter. Integrated Advisors Network LLC raised its position in shares of Newmont by 5.7% in the 2nd quarter. Integrated Advisors Network LLC now owns 3,599 shares of the basic materials company’s stock worth $228,000 after acquiring an additional 194 shares in the last quarter. Finally, FLC Capital Advisors raised its position in shares of Newmont by 2.9% in the 2nd quarter. FLC Capital Advisors now owns 7,120 shares of the basic materials company’s stock worth $451,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.

Several research analysts have recently commented on the company. Canaccord Genuity reduced their price target on Newmont from $66.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, November 9th. KeyCorp started coverage on Newmont in a research report on Friday, September 24th. They set a “sector weight” rating on the stock. Raymond James reduced their target price on Newmont from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, October 29th. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating and reduced their target price for the company from $81.00 to $69.00 in a research report on Friday, October 29th. Finally, National Bank Financial reduced their target price on Newmont from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $71.00.

Newmont stock traded down $0.02 during trading hours on Thursday, hitting $55.47. 3,601,194 shares of the stock traded hands, compared to its average volume of 6,417,626. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.67 and a quick ratio of 2.31. The firm’s 50 day moving average price is $55.82 and its 200-day moving average price is $61.00. The stock has a market capitalization of $44.23 billion, a price-to-earnings ratio of 21.92 and a beta of 0.23. Newmont Co. has a 1 year low of $53.03 and a 1 year high of $75.31.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 28th. The basic materials company reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.28). The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Newmont had a net margin of 16.67% and a return on equity of 10.94%. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. Research analysts forecast that Newmont Co. will post 3.07 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 28th. Stockholders of record on Thursday, December 9th will be paid a $0.55 dividend. The ex-dividend date is Wednesday, December 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.97%. Newmont’s payout ratio is 86.96%.

In other Newmont news, EVP Stephen P. Gottesfeld sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 10th. The stock was sold at an average price of $58.18, for a total transaction of $232,720.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Blake Rhodes sold 500 shares of the stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $58.10, for a total value of $29,050.00. Following the transaction, the senior vice president now owns 48,726 shares in the company, valued at approximately $2,830,980.60. The disclosure for this sale can be found here. Insiders sold 36,491 shares of company stock worth $1,998,540 in the last 90 days. Company insiders own 0.12% of the company’s stock.

About Newmont

Newmont Corp. is a gold producer, which engages in the production of gold. 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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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