Newmont Co. (NYSE:NEM) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in Newmont Co. (NYSE:NEM) by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,402 shares of the basic materials company’s stock after selling 25,716 shares during the period. PNC Financial Services Group Inc.’s holdings in Newmont were worth $4,705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in NEM. Avior Wealth Management LLC lifted its stake in shares of Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Newmont in the 3rd quarter worth approximately $28,000. HHM Wealth Advisors LLC lifted its stake in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Promus Capital LLC bought a new stake in Newmont during the fourth quarter worth approximately $38,000. Finally, McIlrath & Eck LLC boosted its holdings in Newmont by 80.6% during the third 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. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEM has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada raised their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. TD Securities reduced their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is owned by corporate insiders.

Newmont Trading Up 0.7 %

Shares of NYSE:NEM opened at $43.72 on Thursday. The firm has a fifty day moving average of $42.89 and a two-hundred day moving average of $45.85. The firm has a market capitalization of $49.26 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12-month low of $33.29 and a 12-month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, equities analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

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.