Brown Brothers Harriman & Co. Has $129,000 Stock Holdings in Newmont Co. (NYSE:NEM)

Brown Brothers Harriman & Co. decreased its holdings in shares of Newmont Co. (NYSE:NEM) by 23.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,457 shares of the basic materials company’s stock after selling 1,069 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Newmont were worth $129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NEM. McIlrath & Eck LLC raised its holdings in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after buying an additional 361 shares in the last quarter. HHM Wealth Advisors LLC raised its stake in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 350 shares in the last quarter. Promus Capital LLC acquired a new stake in Newmont in the 4th quarter worth approximately $38,000. Kestra Investment Management LLC bought a new stake in Newmont during the fourth quarter worth approximately $43,000. Finally, Assetmark Inc. grew its holdings in Newmont by 185.9% during the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 820 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research note on Friday, March 21st. TD Securities decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Royal Bank of Canada increased their target price on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Finally, Scotiabank dropped their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % 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 that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, 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. Over the last ninety days, insiders sold 33,231 shares of company stock worth $1,388,758. 0.05% of the stock is owned by corporate insiders.

Newmont Trading Up 0.0 %

Shares of Newmont stock opened at $48.29 on Wednesday. Newmont Co. has a 12-month low of $36.44 and a 12-month high of $58.72. The stock has a market capitalization of $54.44 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a 50-day simple moving average of $45.03 and a 200 day simple moving average of $45.35. 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 (NYSE:NEM) last posted its earnings results 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. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

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.