Aviva PLC Sells 395,791 Shares of Newmont Co. (NYSE:NEM)

Aviva PLC lessened its stake in shares of Newmont Co. (NYSE:NEM) by 31.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 870,314 shares of the basic materials company’s stock after selling 395,791 shares during the period. Aviva PLC’s holdings in Newmont were worth $32,393,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd increased its holdings in Newmont by 83.0% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 37,078 shares of the basic materials company’s stock worth $1,380,000 after purchasing an additional 16,818 shares in the last quarter. KCM Investment Advisors LLC grew its holdings in shares of Newmont by 6.2% during the fourth quarter. KCM Investment Advisors LLC now owns 10,747 shares of the basic materials company’s stock worth $400,000 after purchasing an additional 623 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Newmont in the fourth quarter valued at approximately $13,212,000. Systematic Alpha Investments LLC bought a new position in Newmont in the 4th quarter valued at approximately $330,000. Finally, Trexquant Investment LP boosted its position in Newmont by 97.0% during the 4th quarter. Trexquant Investment LP now owns 442,340 shares of the basic materials company’s stock worth $16,464,000 after buying an additional 217,841 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’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 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. The trade was a 3.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value 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. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,231 shares of company stock worth $1,388,758. Insiders own 0.05% of the company’s stock.

Newmont Price Performance

NEM stock opened at $44.25 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company’s 50-day moving average is $45.34 and its 200-day moving average is $45.22. The stock has a market capitalization of $49.88 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1 year low of $36.60 and a 1 year high of $58.72.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Royal Bank of Canada upped their price target on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research report on Friday. TD Securities lowered their target price on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. National Bank Financial upgraded Newmont to a “hold” rating in a research report on Friday, March 21st. Finally, Raymond James lifted their price objective on Newmont from $54.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.09.

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.