Flputnam Investment Management Co. Sells 6,592 Shares of Newmont Co. (NYSE:NEM)

Flputnam Investment Management Co. cut its position in shares of Newmont Co. (NYSE:NEM) by 28.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,705 shares of the basic materials company’s stock after selling 6,592 shares during the period. Flputnam Investment Management Co.’s holdings in Newmont were worth $622,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in shares of Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after buying an additional 797,445 shares during the period. Geode Capital Management LLC lifted its stake in shares of Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after acquiring an additional 326,243 shares during the last quarter. FMR LLC lifted its stake in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares during the last quarter. Ninety One UK Ltd boosted its holdings in Newmont by 27.5% during the 4th quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock valued at $128,649,000 after acquiring an additional 744,718 shares during the period. Finally, Swiss National Bank grew its position in Newmont by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock valued at $182,938,000 after acquiring an additional 9,500 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the sale, the executive vice president now directly owns 79,596 shares in the company, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by insiders.

Newmont Trading Down 1.3 %

NEM opened at $42.30 on Tuesday. 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 firm has a market cap of $47.67 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.41 and a beta of 0.52. Newmont Co. has a 12 month low of $31.67 and a 12 month high of $58.72. The stock has a fifty day moving average price of $42.09 and a 200-day moving average price of $46.21.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 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 business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. As a group, equities research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 2.36%. Newmont’s dividend payout ratio (DPR) is 34.13%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NEM. Royal Bank of Canada lifted their target price on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. Finally, Raymond James lowered their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont currently has an average 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.