Waverton Investment Management Ltd Trims Stock Position in Newmont Co. (NYSE:NEM)

Waverton Investment Management Ltd decreased its position in Newmont Co. (NYSE:NEM) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 516,425 shares of the basic materials company’s stock after selling 14,616 shares during the period. Waverton Investment Management Ltd’s holdings in Newmont were worth $19,219,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC lifted its holdings in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Newmont in the third quarter valued at $28,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $32,000. HHM Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 350 shares during the period. Finally, McIlrath & Eck LLC increased its position in shares of 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 purchasing an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares in the company, valued at $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 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 transaction of $83,080.00. Following the sale, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock valued at $1,166,843 in the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $45.25 on Monday. The business has a 50-day simple moving average of $41.56 and a 200-day simple moving average of $46.45. 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 one year low of $29.42 and a one year high of $58.72. The company has a market cap of $51.52 billion, a PE ratio of 15.44, a P/E/G ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. On average, equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 2.21%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NEM shares. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. CLSA started coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Finally, Bernstein Bank lifted their price objective on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.37.

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.