Stack Financial Management Inc Sells 2,468 Shares of Newmont Co. (NYSE:NEM)

Stack Financial Management Inc reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 0.8% in the fourth quarter, HoldingsChannel reports. The fund owned 301,946 shares of the basic materials company’s stock after selling 2,468 shares during the period. Stack Financial Management Inc’s holdings in Newmont were worth $11,238,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in shares of Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after purchasing an additional 797,445 shares during the last quarter. Geode Capital Management LLC raised its stake in Newmont by 1.4% during the third quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after buying an additional 326,243 shares during the last quarter. FMR LLC boosted its holdings in Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of Newmont by 27.5% in the fourth quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock worth $128,649,000 after acquiring an additional 744,718 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Newmont by 0.3% during the third quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock valued at $182,938,000 after acquiring an additional 9,500 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM opened at $44.05 on Tuesday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The firm has a market capitalization of $50.14 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $41.64 and a 200 day moving average of $46.42.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. On average, research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Bernstein Bank boosted their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. Finally, Raymond James decreased their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.37.

Insider Activity

In other Newmont news, Director Harry M. Iv Conger acquired 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The shares were acquired at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock valued at $1,166,843 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

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.