Adams Asset Advisors LLC Sells 1,767 Shares of Newmont Co. (NYSE:NEM)

Adams Asset Advisors LLC lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,626 shares of the basic materials company’s stock after selling 1,767 shares during the period. Newmont accounts for approximately 1.2% of Adams Asset Advisors LLC’s holdings, making the stock its 24th biggest position. Adams Asset Advisors LLC’s holdings in Newmont were worth $9,552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Waverton Investment Management Ltd grew its stake in shares of Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after acquiring an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC grew its position in Newmont by 117.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after purchasing an additional 18,722 shares during the last quarter. Nordea Investment Management AB increased its stake in 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 valued at $92,832,000 after purchasing an additional 1,578,545 shares in the last quarter. Red Cedar Investment Management LLC purchased a new position in Newmont in the third quarter worth about $1,263,000. Finally, Two Sigma Advisers LP lifted its stake in shares of Newmont by 99.8% in the third quarter. Two Sigma Advisers LP now owns 601,276 shares of the basic materials company’s stock worth $32,138,000 after buying an additional 300,400 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $59.00 to $55.00 in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Newmont Price Performance

NYSE:NEM traded down $0.06 on Monday, reaching $39.04. 3,200,692 shares of the company’s stock traded hands, compared to its average volume of 7,386,106. Newmont Co. has a 12 month low of $29.42 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. The firm has a market cap of $44.45 billion, a PE ratio of -25.68, a P/E/G ratio of 0.35 and a beta of 0.50. The stock has a 50-day simple moving average of $40.74 and a 200-day simple moving average of $46.93.

Newmont (NYSE:NEM) last issued its 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 during 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 company’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. Equities research analysts forecast that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business 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 payout ratio is currently -65.79%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Harry M. Iv Conger bought 9,498 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

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.