TIAA Trust National Association Sells 332 Shares of Newmont Co. (NYSE:NEM)

TIAA Trust National Association reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,563 shares of the basic materials company’s stock after selling 332 shares during the period. TIAA Trust National Association’s holdings in Newmont were worth $207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cerity Partners LLC lifted its position in Newmont by 49.3% during the third quarter. Cerity Partners LLC now owns 58,535 shares of the basic materials company’s stock valued at $3,129,000 after purchasing an additional 19,321 shares in the last quarter. FMR LLC raised its stake in shares of Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after buying an additional 1,226,697 shares during the period. Townsquare Capital LLC grew its stake in shares of Newmont by 117.7% during the 3rd quarter. Townsquare Capital LLC now owns 23,299 shares of the basic materials company’s stock valued at $1,245,000 after acquiring an additional 12,596 shares during the period. Glenmede Trust Co. NA increased its holdings in Newmont by 8.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 29,642 shares of the basic materials company’s stock worth $1,584,000 after acquiring an additional 2,199 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Newmont by 11.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 49,238 shares of the basic materials company’s stock worth $2,632,000 after acquiring an additional 4,900 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 0.7 %

Shares of NYSE NEM opened at $48.06 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $36.10 and a 12-month high of $58.72. The firm’s 50-day moving average price is $44.78 and its 200-day moving average price is $45.50. The stock has a market capitalization of $54.17 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. The business 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%. On average, equities research analysts anticipate 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 was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is 34.13%.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NEM shares. CLSA assumed coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. TD Securities cut their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. Finally, Scotiabank lowered their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

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.