Newmont Co. (NYSE:NEM) Position Cut by US Bancorp DE

US Bancorp DE lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,214 shares of the basic materials company’s stock after selling 12,813 shares during the period. US Bancorp DE’s holdings in Newmont were worth $7,303,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its holdings in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC bought a new position in Newmont in the 3rd quarter valued at about $28,000. HHM Wealth Advisors LLC increased its stake in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares during the period. McIlrath & Eck LLC raised its position in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Newmont in the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Up 0.3 %

NEM stock opened at $42.51 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a market capitalization of $47.90 billion, a P/E ratio of 14.51, a P/E/G ratio of 0.41 and a beta of 0.52. Newmont Co. has a 52-week low of $33.22 and a 52-week high of $58.72. The company’s 50 day simple moving average is $42.18 and its 200-day simple moving average is $46.15.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share 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 analysts’ expectations of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, equities research analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed 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. This represents a $1.00 annualized dividend and a yield of 2.35%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research analyst reports. The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. CLSA initiated coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. Raymond James dropped their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Bernstein Bank raised their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

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.