Farther Finance Advisors LLC Decreases Stake in Newmont Co. (NYSE:NEM)

Farther Finance Advisors LLC lowered its holdings in Newmont Co. (NYSE:NEM) by 22.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,252 shares of the basic materials company’s stock after selling 1,804 shares during the quarter. Farther Finance Advisors LLC’s holdings in Newmont were worth $233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Studio Investment Management LLC raised its stake in shares of Newmont by 29.4% in the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 261 shares during the last quarter. Confluence Investment Management LLC increased its position in Newmont by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after acquiring an additional 281 shares during the last quarter. Howard Capital Management Inc. increased its position in Newmont by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 292 shares during the last quarter. Fiduciary Financial Group LLC increased its position in Newmont by 3.6% during the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after acquiring an additional 303 shares during the last quarter. Finally, Conning Inc. increased its position in Newmont by 6.0% during the fourth quarter. Conning Inc. now owns 5,460 shares of the basic materials company’s stock valued at $203,000 after acquiring an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the sale, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,231 shares of company stock valued at $1,388,758. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $47.79 on Wednesday. The firm has a market cap of $53.85 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $43.59 and a 200-day moving average price of $45.64. Newmont Co. has a twelve month low of $33.29 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. As a group, equities research analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio is presently 34.13%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada upped their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Raymond James reduced their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. TD Securities reduced their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. Finally, StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $53.16.

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.