FNY Investment Advisers LLC Sells 58,461 Shares of Newmont Co. (NYSE:NEM)

FNY Investment Advisers LLC cut its stake in shares of Newmont Co. (NYSE:NEM) by 96.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,425 shares of the basic materials company’s stock after selling 58,461 shares during the period. FNY Investment Advisers LLC’s holdings in Newmont were worth $90,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Zurich Insurance Group Ltd FI bought a new stake in shares of Newmont in the 3rd quarter valued at about $98,011,000. Nordea Investment Management AB raised its holdings in Newmont by 173.0% in 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 purchasing an additional 1,578,545 shares during the period. FMR LLC boosted its position in shares of Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after purchasing an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Newmont by 262.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after buying an additional 1,096,905 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in Newmont by 29.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock worth $197,976,000 after buying an additional 1,074,623 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Harry M. Iv Conger bought 9,498 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 14,077 shares of company stock worth $563,080. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of research analyst reports. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Royal Bank of Canada dropped their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Veritas raised shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Raymond James lowered their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.80.

Newmont Stock Up 3.2 %

NYSE:NEM opened at $41.43 on Thursday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The firm has a market capitalization of $47.17 billion, a price-to-earnings ratio of -27.26, a price-to-earnings-growth 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 stock’s 50 day moving average price is $40.49 and its two-hundred day moving average price is $46.90.

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 the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business’s revenue was up 84.7% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. Equities research analysts expect that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.41%. Newmont’s dividend payout ratio (DPR) is currently -65.79%.

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.