Skylands Capital LLC Boosts Holdings in Newmont Co. (NYSE:NEM)

Skylands Capital LLC grew its position in Newmont Co. (NYSE:NEM) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,375 shares of the basic materials company’s stock after purchasing an additional 1,500 shares during the period. Skylands Capital LLC’s holdings in Newmont were worth $2,322,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC lifted its stake in shares of Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Newmont in the 3rd quarter valued at about $28,000. Highline Wealth Partners LLC acquired a new position in Newmont during the 3rd quarter worth approximately $32,000. McIlrath & Eck LLC lifted its position in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 5.9 %

NEM stock opened at $45.25 on Monday. The business has a fifty day moving average price of $41.56 and a 200 day moving average price of $46.45. The stock has a market capitalization of $51.52 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 0.41 and a beta of 0.52. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two 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 posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion for 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%. Analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Raymond James dropped their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Royal Bank of Canada boosted their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. CLSA began coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. Scotiabank lowered their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.37.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the sale, the director now owns 49,993 shares in the company, valued at $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’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 $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is owned by insiders.

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.