Gemsstock Ltd. Sells 170,800 Shares of Newmont Co. (NYSE:NEM)

Gemsstock Ltd. lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 36.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 293,500 shares of the basic materials company’s stock after selling 170,800 shares during the quarter. Newmont makes up about 2.2% of Gemsstock Ltd.’s holdings, making the stock its 13th biggest holding. Gemsstock Ltd.’s holdings in Newmont were worth $10,924,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Sanctuary Advisors LLC lifted its position in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 18,722 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after acquiring an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. increased its stake in Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after acquiring an additional 865,213 shares during the last quarter. Brookstone Capital Management acquired a new position in Newmont during the fourth quarter valued at approximately $245,000. Finally, Moody National Bank Trust Division lifted its stake in Newmont by 13.6% during the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock worth $822,000 after purchasing an additional 2,645 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NEM has been the subject of a number of research analyst reports. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Raymond James lifted their price target on shares of Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a report on Friday. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. Scotiabank decreased their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group started coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.09.

Insider Activity

In other news, EVP Peter Toth sold 3,000 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 $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Natascha Viljoen sold 9,000 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 $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 approximately $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 in the last ninety days. 0.05% of the stock is owned by company insiders.

Newmont Stock Performance

NYSE:NEM opened at $44.25 on Friday. The company has a market capitalization of $49.88 billion, a PE ratio of 15.10, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a fifty-two week low of $36.60 and a fifty-two week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company has a 50 day simple moving average of $45.34 and a two-hundred day simple moving average of $45.28.

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

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio is 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.