Sequoia Financial Advisors LLC Trims Stake in Newmont Co. (NYSE:NEM)

Sequoia Financial Advisors LLC cut its position in shares of Newmont Co. (NYSE:NEM) by 17.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,019 shares of the basic materials company’s stock after selling 2,363 shares during the period. Sequoia Financial Advisors LLC’s holdings in Newmont were worth $410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its stake in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Newmont in the 3rd quarter valued at $28,000. 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 worth $43,000 after purchasing an additional 361 shares during the period. HHM Wealth Advisors LLC lifted its position in shares of Newmont by 66.0% during the fourth 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 last quarter. Finally, Promus Capital LLC purchased a new stake in shares of Newmont during the fourth quarter valued at $38,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research analyst reports. CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. TD Securities dropped their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. Finally, Raymond James decreased their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Price Performance

NYSE NEM opened at $47.79 on Wednesday. The firm’s fifty day simple moving average is $43.59 and its two-hundred day simple moving average is $45.64. The firm has a market capitalization of $53.85 billion, a P/E ratio of 16.31, a P/E/G ratio of 0.41 and a beta of 0.54. 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 $33.29 and a 12-month high of $58.72.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 2.09%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insiders Place Their Bets

In related news, 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 transaction of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,231 shares of company stock valued at $1,388,758. 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.