Newmont Co. (NYSE:NEM) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC reduced its position in Newmont Co. (NYSE:NEM) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,255 shares of the basic materials company’s stock after selling 3,179 shares during the quarter. Private Advisor Group LLC’s holdings in Newmont were worth $3,024,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Waverton Investment Management Ltd increased its stake in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after buying an additional 65,075 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after acquiring an additional 18,722 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Newmont by 173.0% during the fourth 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. raised its stake in shares of 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 in the last quarter. Finally, Red Cedar Investment Management LLC purchased a new position in Newmont in the third quarter valued at $1,263,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated 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 owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NEM. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective on the stock. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday. Raymond James lowered 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. Finally, Scotiabank cut their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $53.37.

Newmont Stock Performance

Shares of NEM opened at $44.05 on Tuesday. The company’s 50 day simple moving average is $41.64 and its 200-day simple moving average is $46.42. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The firm has a market cap of $50.14 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating 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 company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. As a group, equities analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.27%. Newmont’s payout ratio is 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.