Elo Mutual Pension Insurance Co Sells 4,576 Shares of Newmont Co. (NYSE:NEM)

Elo Mutual Pension Insurance Co lowered its stake in shares of Newmont Co. (NYSE:NEM) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 112,889 shares of the basic materials company’s stock after selling 4,576 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Newmont were worth $4,202,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NEM. Confluence Investment Management LLC increased its holdings in shares of Newmont by 2.4% during the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock worth $439,000 after purchasing an additional 281 shares during the period. Howard Capital Management Inc. increased its stake 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 period. Intact Investment Management Inc. raised its holdings in Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 300 shares in the last quarter. Fiduciary Financial Group LLC lifted its position in shares of Newmont by 3.6% in the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 303 shares during the period. Finally, Conning Inc. grew its holdings in shares of Newmont by 6.0% during the 4th quarter. Conning Inc. now owns 5,460 shares of the basic materials company’s stock worth $203,000 after purchasing an additional 311 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the transaction, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,231 shares of company stock valued at $1,388,758. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NYSE:NEM opened at $48.38 on Friday. The business has a fifty day moving average of $44.65 and a 200-day moving average of $45.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a twelve month low of $35.37 and a twelve month high of $58.72. The firm has a market cap of $54.53 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.32 billion. On average, equities research analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio is 34.13%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NEM. The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. CLSA began coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. Finally, National Bank Financial upgraded shares of Newmont to a “hold” rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, eight 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, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

About Newmont

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.