Moran Wealth Management LLC Sells 3,474 Shares of Newmont Co. (NYSE:NEM)

Moran Wealth Management LLC reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,980 shares of the basic materials company’s stock after selling 3,474 shares during the quarter. Moran Wealth Management LLC’s holdings in Newmont were worth $930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of NEM. Waverton Investment Management Ltd lifted 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 valued at $28,379,000 after acquiring an additional 65,075 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after purchasing an additional 18,722 shares during the last quarter. Nordea Investment Management AB lifted its position in 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 valued at $92,832,000 after purchasing an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. boosted its holdings 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 worth $88,580,000 after purchasing an additional 865,213 shares during the last quarter. Finally, Brookstone Capital Management bought a new stake in Newmont in the 4th quarter worth approximately $245,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Up 2.5 %

Shares of NEM 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 current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. 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 business’s 50 day moving average is $42.76 and its 200 day moving average is $45.87.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion for 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 expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 dividend yield of 2.30%. Newmont’s payout ratio is 34.13%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. This represents 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 worth $1,388,758. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NEM. CLSA started coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. Scotiabank dropped their target price 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. Raymond James cut their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada boosted their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

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.