Newmont Co. (NYSE:NEM) Shares Sold by LGT Group Foundation

LGT Group Foundation reduced its stake in shares of Newmont Co. (NYSE:NEM) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,519 shares of the basic materials company’s stock after selling 7,339 shares during the quarter. LGT Group Foundation’s holdings in Newmont were worth $5,677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC increased its stake 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 purchasing an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new position in Newmont in the third quarter valued at $28,000. HHM Wealth Advisors LLC increased its stake in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares during the period. McIlrath & Eck LLC increased its stake in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in Newmont in the fourth quarter valued at $43,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Down 1.3 %

NEM stock opened at $42.30 on Tuesday. The company has a market cap of $47.67 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.41 and a beta of 0.52. Newmont Co. has a 52 week low of $31.67 and a 52 week high of $58.72. The company’s 50-day moving average price is $42.09 and its 200 day moving average price is $46.21. 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 released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS 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 firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. On average, research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NEM shares. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. Scotiabank lowered their target price 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. Raymond James lowered their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Bernstein Bank lifted their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, The Goldman Sachs Group began coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $53.16.

Insider Buying and Selling at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 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 value of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 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 $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock valued at $1,166,843 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.