Newmont Co. (NYSE:NEM) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. decreased its position in Newmont Co. (NYSE:NEM) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 871,154 shares of the basic materials company’s stock after selling 37,837 shares during the period. Tocqueville Asset Management L.P. owned 0.08% of Newmont worth $32,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp raised its holdings in Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after buying an additional 797,445 shares during the period. Geode Capital Management LLC raised its stake in shares of Newmont by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after acquiring an additional 326,243 shares during the period. Amundi lifted its holdings in shares of Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after acquiring an additional 1,507,708 shares during the last quarter. Ruffer LLP boosted its position in shares of Newmont by 19.7% during the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock worth $263,706,000 after purchasing an additional 1,164,870 shares during the period. Finally, FMR LLC increased its holdings in Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after purchasing an additional 1,226,697 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 2.9 %

Shares of Newmont stock opened at $47.57 on Tuesday. The company has a fifty day simple moving average of $43.39 and a 200-day simple moving average of $45.68. Newmont Co. has a 12-month low of $33.29 and a 12-month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market cap of $53.60 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 0.41 and a beta of 0.54.

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

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio is currently 34.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. CLSA initiated coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. TD Securities cut their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Raymond James cut their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Finally, Royal Bank of Canada raised their price target on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,231 shares of company stock worth $1,388,758. 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.