Bahl & Gaynor Inc. Reduces Holdings in Newmont Co. (NYSE:NEM)

Bahl & Gaynor Inc. reduced its position in Newmont Co. (NYSE:NEM) by 6.5% in the 4th quarter, Holdings Channel reports. The firm owned 17,275 shares of the basic materials company’s stock after selling 1,200 shares during the period. Bahl & Gaynor Inc.’s holdings in Newmont were worth $643,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Avior Wealth Management LLC lifted its stake in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $28,000. HHM Wealth Advisors LLC raised its position in Newmont by 66.0% in the 4th 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. McIlrath & Eck LLC boosted its stake in 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 purchasing an additional 361 shares during the period. Finally, Kestra Investment Management LLC purchased a new position in Newmont during the 4th quarter worth $43,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research reports. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Raymond James reduced their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Finally, Bernstein Bank increased their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Price Performance

NEM stock opened at $43.89 on Thursday. The firm has a 50 day moving average of $42.29 and a 200-day moving average of $46.14. The company has a market cap of $49.46 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.41 and a beta of 0.52. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $33.29 and a 12-month high of $58.72.

Newmont (NYSE:NEM) last posted its 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 the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, equities analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal 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. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.28%. Newmont’s payout ratio is 34.13%.

Insider Buying and Selling at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now 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 filing with the SEC, which is accessible through this link. 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 value of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is owned by corporate insiders.

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.