Newmont Co. (NYSE:NEM) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC lessened its stake in shares of Newmont Co. (NYSE:NEM) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,306 shares of the basic materials company’s stock after selling 1,324 shares during the quarter. GAMMA Investing LLC’s holdings in Newmont were worth $644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its position in shares of Newmont by 70.3% during the 2nd quarter. Natixis Advisors LLC now owns 120,787 shares of the basic materials company’s stock valued at $5,057,000 after purchasing an additional 49,859 shares during the period. TD Asset Management Inc boosted its stake in Newmont by 1.5% during the second quarter. TD Asset Management Inc now owns 1,269,573 shares of the basic materials company’s stock valued at $53,139,000 after buying an additional 18,509 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Newmont by 1.3% during the second quarter. Victory Capital Management Inc. now owns 1,510,301 shares of the basic materials company’s stock worth $63,236,000 after acquiring an additional 18,698 shares during the period. Arizona State Retirement System raised its position in Newmont by 1.0% in the second quarter. Arizona State Retirement System now owns 334,199 shares of the basic materials company’s stock worth $13,993,000 after acquiring an additional 3,472 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Newmont by 135.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,250 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 720 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $38.11 on Friday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company has a market capitalization of $43.39 billion, a PE ratio of -25.07, a PEG ratio of 0.35 and a beta of 0.50. The company’s 50 day moving average price is $41.55 and its 200 day moving average price is $46.99.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the company posted $0.36 earnings per share. The company’s revenue was up 84.7% compared to the same quarter last year. Research analysts expect that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.62%. Newmont’s dividend payout ratio is -65.79%.

Insider Activity at Newmont

In other Newmont news, Director Harry M. Iv Conger bought 9,498 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Royal Bank of Canada dropped their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. CLSA began coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. Raymond James cut their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Finally, CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.31.

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.