Perpetual Ltd Sells 6,450 Shares of Newmont Co. (NYSE:NEM)

Perpetual Ltd cut its position in Newmont Co. (NYSE:NEM) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 752,589 shares of the basic materials company’s stock after selling 6,450 shares during the quarter. Perpetual Ltd owned about 0.07% of Newmont worth $28,011,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hoese & Co LLP bought a new stake in Newmont in the 3rd quarter valued at about $27,000. Avior Wealth Management LLC increased its stake in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Newmont in the third quarter valued at approximately $28,000. Highline Wealth Partners LLC purchased a new stake in shares of Newmont during the 3rd quarter valued at approximately $32,000. Finally, McIlrath & Eck LLC boosted 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 during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NEM opened at $41.72 on Tuesday. The business’s fifty day simple moving average is $40.29 and its 200 day simple moving average is $46.89. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 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 negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. On average, analysts predict that Newmont Co. will post 3.1 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were issued a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. Newmont’s payout ratio is -65.79%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,077 shares of company stock valued at $563,080. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

NEM has been the topic of several recent research reports. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Bernstein Bank raised their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group raised their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.80.

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.