Newmont Co. (NYSE:NEM) Stock Position Trimmed by Meridian Wealth Management LLC

Meridian Wealth Management LLC trimmed its stake in shares of Newmont Co. (NYSE:NEM) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,046 shares of the basic materials company’s stock after selling 642 shares during the quarter. Meridian Wealth Management LLC’s holdings in Newmont were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in shares of Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after buying an additional 797,445 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after buying an additional 326,243 shares in the last quarter. FMR LLC raised its position in shares of Newmont by 21.1% during the 3rd 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 in the last quarter. Ninety One UK Ltd raised its position in shares of Newmont by 27.5% during the 4th quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock worth $128,649,000 after buying an additional 744,718 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Newmont by 0.3% during the 3rd quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock worth $182,938,000 after buying an additional 9,500 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was 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 in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on NEM shares. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Bernstein Bank lifted their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Scotiabank lowered their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Raymond James lowered their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Finally, TD Securities lowered their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Stock Performance

NEM stock opened at $43.89 on Thursday. The firm has a 50 day simple moving average of $42.29 and a 200 day simple moving average of $46.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 52 week low of $33.29 and a 52 week high of $58.72. The stock has a market cap of $49.46 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.41 and a beta of 0.52.

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

Newmont Announces Dividend

The company also recently disclosed 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 2.28%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio is 34.13%.

Newmont 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.