Newmont Co. (NYSE:NEM) Position Boosted by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT increased its holdings in Newmont Co. (NYSE:NEM) by 59.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,940 shares of the basic materials company’s stock after buying an additional 99,910 shares during the quarter. Sound Shore Management Inc. CT’s holdings in Newmont were worth $9,936,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Avior Wealth Management LLC grew its holdings in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after buying an additional 350 shares in the last quarter. Promus Capital LLC bought a new position in Newmont in the 4th quarter worth approximately $38,000. McIlrath & Eck LLC grew its holdings in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new position in Newmont in the 4th quarter worth approximately $43,000. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

NEM opened at $47.23 on Monday. The stock has a fifty day moving average of $44.10 and a 200-day moving average of $45.54. The firm has a market capitalization of $53.24 billion, a P/E ratio of 16.12, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12-month low of $33.86 and a 12-month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

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

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NEM shares. Royal Bank of Canada increased their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. CLSA started coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Finally, Scotiabank decreased their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Insider Transactions at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15 % 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 valued at $1,388,758. 0.06% of the stock is owned by insiders.

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.