Newmont Co. (NYSE:NEM) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its holdings in shares of Newmont Co. (NYSE:NEM) by 14.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 621,859 shares of the basic materials company’s stock after selling 100,984 shares during the period. Prudential Financial Inc. owned about 0.05% of Newmont worth $23,146,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NEM. Van ECK Associates Corp grew its holdings in shares of Newmont by 1.6% in 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 acquiring an additional 797,445 shares during the last quarter. Geode Capital Management LLC increased its stake in Newmont by 1.4% in 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 purchasing an additional 326,243 shares in the last quarter. Amundi increased its stake in Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after purchasing an additional 1,507,708 shares in the last quarter. Ruffer LLP raised its holdings in Newmont by 19.7% during the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock worth $263,706,000 after buying an additional 1,164,870 shares during the period. Finally, FMR LLC boosted its holdings in shares of Newmont by 21.1% in the third 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 during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NEM shares. Scotiabank cut their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. TD Securities lowered their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Finally, CLSA initiated coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $53.16.

Newmont Stock Down 0.4 %

Newmont stock opened at $47.36 on Thursday. The company has a market capitalization of $53.38 billion, a P/E ratio of 16.16, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1-year low of $34.18 and a 1-year high of $58.72. The firm’s fifty day simple moving average is $44.52 and its 200-day simple moving average is $45.50. 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 (NYSE:NEM) last announced its quarterly earnings results 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. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Sell-side analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.11%. Newmont’s payout ratio is currently 34.13%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock worth $1,388,758 over the last 90 days. 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.