MONECO Advisors LLC Sells 1,000 Shares of Newmont Co. (NYSE:NEM)

MONECO Advisors LLC reduced its position in shares of Newmont Co. (NYSE:NEM) by 8.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,219 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. MONECO Advisors LLC’s holdings in Newmont were worth $418,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in Newmont by 6,387.0% in the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock worth $52,377,000 after acquiring an additional 964,815 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Newmont in the 3rd quarter worth $529,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Newmont by 20.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,978 shares of the basic materials company’s stock worth $5,119,000 after purchasing an additional 16,399 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Newmont by 0.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 142,583 shares of the basic materials company’s stock valued at $7,621,000 after purchasing an additional 861 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Newmont by 8.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 985,815 shares of the basic materials company’s stock valued at $52,124,000 after buying an additional 77,806 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Down 2.8 %

Newmont stock opened at $44.05 on Tuesday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The firm has a market capitalization of $50.14 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 0.41 and a beta of 0.52. The firm has a 50 day moving average of $41.64 and a 200 day moving average of $46.42. 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 announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, research analysts predict 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 will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. Newmont’s payout ratio is 34.13%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Royal Bank of Canada upped their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Raymond James lowered their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Finally, Scotiabank dropped 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 given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.37.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business’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 $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 28,154 shares of company stock valued at $1,166,843 over the last 90 days. Company insiders own 0.06% of the company’s stock.

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.