Newmont Co. (NYSE:NEM) Shares Sold by Optimum Investment Advisors

Optimum Investment Advisors cut its holdings in shares of Newmont Co. (NYSE:NEM) by 10.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,400 shares of the basic materials company’s stock after selling 400 shares during the period. Optimum Investment Advisors’ holdings in Newmont were worth $127,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its holdings in shares of Newmont by 1.6% in the 4th 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 in the last quarter. Geode Capital Management LLC grew its position in shares of Newmont by 1.4% in the 3rd 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. Amundi grew its position in shares of Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after buying an additional 1,507,708 shares during the last quarter. Ruffer LLP grew its position in shares of Newmont by 19.7% in the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock valued at $263,706,000 after buying an additional 1,164,870 shares during the last quarter. Finally, FMR LLC grew its position in shares of Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after buying an additional 1,226,697 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

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

Newmont Price Performance

NEM opened at $47.23 on Monday. 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 $33.86 and a 52-week high of $58.72. The company has a 50 day moving average of $44.10 and a two-hundred day moving average of $45.54. The company has a market cap of $53.24 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping 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 business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. On average, analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.12%. Newmont’s dividend payout ratio is presently 34.13%.

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.