Dudley Capital Management LLC Cuts Position in Newmont Co. (NYSE:NEM)

Dudley Capital Management LLC cut its position in shares of Newmont Co. (NYSE:NEM) by 21.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,003 shares of the basic materials company’s stock after selling 3,775 shares during the quarter. Dudley Capital Management LLC’s holdings in Newmont were worth $521,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NEM. Minneapolis Portfolio Management Group LLC grew its stake in shares of Newmont by 0.5% during the fourth quarter. Minneapolis Portfolio Management Group LLC now owns 676,076 shares of the basic materials company’s stock valued at $25,164,000 after buying an additional 3,317 shares during the last quarter. Sound Shore Management Inc. CT raised its position in Newmont by 59.8% during the 4th quarter. Sound Shore Management Inc. CT now owns 266,940 shares of the basic materials company’s stock valued at $9,936,000 after purchasing an additional 99,910 shares during the last quarter. Syntax Research Inc. grew its position in shares of Newmont by 110.3% in the 4th quarter. Syntax Research Inc. now owns 72,125 shares of the basic materials company’s stock worth $2,684,000 after buying an additional 37,833 shares during the last quarter. Angeles Investment Advisors LLC boosted its holdings in Newmont by 13.6% in the fourth quarter. Angeles Investment Advisors LLC now owns 14,631 shares of the basic materials company’s stock valued at $545,000 after acquiring an additional 1,754 shares in the last quarter. Finally, Crowley Wealth Management Inc. purchased a new position in Newmont during the 4th quarter valued at $122,000. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In related news, 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 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 approximately $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company’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 sale, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 over the last three months. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Performance

Shares of NEM opened at $46.81 on Tuesday. The firm has a market capitalization of $52.76 billion, a P/E ratio of 15.97, a PEG ratio of 0.41 and a beta of 0.54. 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 Co. has a one year low of $33.86 and a one year high of $58.72. The business has a fifty day moving average of $44.25 and a 200 day moving average of $45.50.

Newmont (NYSE:NEM) last issued 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, sell-side analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.14%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NEM. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. Scotiabank lowered their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. TD Securities dropped their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. CLSA started coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. Finally, Raymond James dropped their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus 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.