Excalibur Management Corp Sells 1,478 Shares of Newmont Co. (NYSE:NEM)

Excalibur Management Corp cut its holdings in Newmont Co. (NYSE:NEM) by 11.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,468 shares of the basic materials company’s stock after selling 1,478 shares during the period. Excalibur Management Corp’s holdings in Newmont were worth $427,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NEM. Baxter Bros Inc. increased its position in shares of Newmont by 3.3% during the fourth quarter. Baxter Bros Inc. now owns 15,987 shares of the basic materials company’s stock valued at $595,000 after buying an additional 510 shares during the period. Bay Capital Advisors LLC bought a new position in shares of Newmont during the fourth quarter valued at approximately $225,000. Minneapolis Portfolio Management Group LLC boosted its position in shares of Newmont by 0.5% in the 4th quarter. Minneapolis Portfolio Management Group LLC now owns 676,076 shares of the basic materials company’s stock worth $25,164,000 after purchasing an additional 3,317 shares in the last quarter. Sound Shore Management Inc. CT grew its stake in shares of Newmont by 59.8% in the 4th quarter. Sound Shore Management Inc. CT now owns 266,940 shares of the basic materials company’s stock worth $9,936,000 after buying an additional 99,910 shares during the last quarter. Finally, Syntax Research Inc. increased its position in Newmont by 110.3% during the 4th quarter. Syntax Research Inc. now owns 72,125 shares of the basic materials company’s stock valued at $2,684,000 after buying an additional 37,833 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NEM shares. TD Securities cut their target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. Royal Bank of Canada increased their target price on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday, March 21st. Finally, StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock worth $1,388,758 in the last three months. 0.06% of the stock is owned by company insiders.

Newmont Trading Up 1.4 %

Newmont stock opened at $47.48 on Wednesday. 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 $34.00 and a 12-month high of $58.72. The firm has a market capitalization of $53.52 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 0.41 and a beta of 0.54. The firm has a 50 day moving average of $44.40 and a 200 day moving average of $45.48.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, research analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.11%. Newmont’s dividend payout ratio is presently 34.13%.

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.