Citizens Financial Group Inc. RI Sells 2,049 Shares of Newmont Co. (NYSE:NEM)

Citizens Financial Group Inc. RI lowered its position in shares of Newmont Co. (NYSE:NEM) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 126,974 shares of the basic materials company’s stock after selling 2,049 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Newmont were worth $4,726,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Studio Investment Management LLC boosted its holdings in Newmont by 29.4% during the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 261 shares during the last quarter. Confluence Investment Management LLC lifted its position in 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 buying an additional 281 shares in the last quarter. Howard Capital Management Inc. boosted its stake in shares of Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after buying an additional 292 shares during the last quarter. Fiduciary Financial Group LLC grew its holdings 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 valued at $338,000 after acquiring an additional 303 shares in the last quarter. Finally, Conning Inc. increased its position in shares of Newmont by 6.0% in the fourth quarter. Conning Inc. now owns 5,460 shares of the basic materials company’s stock valued at $203,000 after acquiring an additional 311 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on NEM. TD Securities reduced their price target 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 started coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. Royal Bank of Canada boosted their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares of the company’s stock, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is owned by company insiders.

Newmont Trading Up 2.5 %

Shares of NEM stock opened at $43.45 on Wednesday. Newmont Co. has a 12-month low of $33.29 and a 12-month high of $58.72. The company has a market capitalization of $48.96 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The firm has a 50 day moving average price of $42.76 and a two-hundred day moving average price of $45.87. 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 released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. As a group, analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

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.