Newmont Co. (NYSE:NEM) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in Newmont Co. (NYSE:NEM) by 28.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,999 shares of the basic materials company’s stock after selling 25,947 shares during the period. Corient Private Wealth LLC’s holdings in Newmont were worth $2,419,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC lifted its stake in shares of Newmont by 7.2% in the 4th quarter. Wellington Shields & Co. LLC now owns 38,950 shares of the basic materials company’s stock valued at $1,450,000 after purchasing an additional 2,600 shares during the last quarter. Intact Investment Management Inc. boosted its stake in Newmont by 21.4% during the fourth quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after buying an additional 300 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Newmont by 33.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 399,644 shares of the basic materials company’s stock valued at $14,875,000 after acquiring an additional 101,275 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Newmont by 2.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 235,047 shares of the basic materials company’s stock worth $8,697,000 after acquiring an additional 5,900 shares during the last quarter. Finally, Erste Asset Management GmbH lifted its stake in Newmont by 5.0% during the fourth quarter. Erste Asset Management GmbH now owns 230,007 shares of the basic materials company’s stock worth $8,701,000 after purchasing an additional 11,014 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NEM. Scotiabank lowered their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. CLSA began coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. The Goldman Sachs Group assumed coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, TD Securities reduced their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. One 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Trading Down 1.1 %

NYSE:NEM opened at $47.23 on Monday. The stock has a market capitalization of $53.24 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1 year low of $33.86 and a 1 year high of $58.72. The stock has a fifty day moving average price of $44.10 and a two-hundred day moving average price of $45.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, sell-side analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock valued at $1,388,758 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

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.