Successful Portfolios LLC Has $232,000 Stake in Newmont Co. (NYSE:NEM)

Successful Portfolios LLC lifted its position in shares of Newmont Co. (NYSE:NEM) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,221 shares of the basic materials company’s stock after buying an additional 312 shares during the quarter. Successful Portfolios LLC’s holdings in Newmont were worth $232,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Waverton Investment Management Ltd raised its position in shares of Newmont by 14.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after acquiring an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC grew its stake in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 18,722 shares during the period. Nordea Investment Management AB increased its holdings in Newmont by 173.0% in 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 purchasing an additional 1,578,545 shares in the last quarter. Red Cedar Investment Management LLC acquired a new position in Newmont in the third quarter valued at approximately $1,263,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Newmont by 57.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after buying an additional 865,213 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $41.72 on Monday. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company has a market cap of $47.50 billion, a P/E ratio of -27.45, a P/E/G ratio of 0.31 and a beta of 0.50. The firm has a 50-day moving average of $40.29 and a 200-day moving average of $46.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the business posted $0.36 EPS. The company’s quarterly revenue was up 84.7% on a year-over-year basis. Equities research analysts forecast that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were given a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.40%. Newmont’s dividend payout ratio is currently -65.79%.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research analyst reports. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, CLSA began coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock worth $563,080 in the last quarter. 0.06% of the stock is currently owned by company insiders.

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.