First Horizon Advisors Inc. Has $878,000 Stock Position in Newmont Co. (NYSE:NEM)

First Horizon Advisors Inc. lowered its position in shares of Newmont Co. (NYSE:NEM) by 19.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,589 shares of the basic materials company’s stock after selling 5,707 shares during the quarter. First Horizon Advisors Inc.’s holdings in Newmont were worth $878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Waverton Investment Management Ltd lifted its holdings in shares of Newmont by 14.0% during the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after buying an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of 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 buying an additional 18,722 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Newmont by 173.0% during 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 buying an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Newmont by 57.1% during the fourth 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. Finally, Red Cedar Investment Management LLC bought a new position in shares of Newmont in the third quarter worth $1,263,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the transaction, the director now owns 49,993 shares in the company, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry M. Iv Conger bought 9,498 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the purchase, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 28,154 shares of company stock worth $1,166,843. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $44.05 on Tuesday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. 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 $50.14 billion, a P/E ratio of 15.03, a P/E/G ratio of 0.41 and a beta of 0.52. The company’s 50 day moving average price is $41.64 and its two-hundred day moving average price is $46.42.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion for 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 forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.27%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Analyst Ratings Changes

Several research firms recently weighed in on NEM. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday. Bernstein Bank increased their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group assumed 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

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.