Newmont Co. (NYSE:NEM) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC reduced its stake in shares of Newmont Co. (NYSE:NEM) by 98.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,706 shares of the basic materials company’s stock after selling 961,215 shares during the quarter. International Assets Investment Management LLC’s holdings in Newmont were worth $718,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NEM. Fortem Financial Group LLC increased its stake in Newmont by 7.3% in the 4th quarter. Fortem Financial Group LLC now owns 27,967 shares of the basic materials company’s stock valued at $1,041,000 after purchasing an additional 1,891 shares in the last quarter. Bard Financial Services Inc. increased its position in shares of Newmont by 25.4% in the fourth quarter. Bard Financial Services Inc. now owns 86,180 shares of the basic materials company’s stock valued at $3,208,000 after buying an additional 17,480 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Newmont by 173.0% during the 4th 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 during the last quarter. Waller Financial Planning Group Inc. purchased a new stake in shares of Newmont in the 4th quarter worth about $218,000. Finally, Everence Capital Management Inc. increased its holdings in Newmont by 90.0% during the 4th quarter. Everence Capital Management Inc. now owns 30,530 shares of the basic materials company’s stock valued at $1,136,000 after acquiring an additional 14,460 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Up 2.4 %

Shares of NYSE NEM opened at $39.07 on Friday. The stock has a market capitalization of $44.48 billion, a PE ratio of -25.70, a P/E/G ratio of 0.35 and a beta of 0.50. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $40.86 and a 200-day moving average of $46.88. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

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

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.56%. Newmont’s dividend payout ratio is currently -65.79%.

Insider Transactions at Newmont

In related news, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NEM. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and reduced their target price for the company from $67.00 to $54.00 in a research note 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 for the company in a research report on Thursday, October 24th. Bernstein Bank upped their price objective on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $54.31.

Newmont Company 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.