Fifth Third Wealth Advisors LLC Reduces Stock Holdings in Newmont Co. (NYSE:NEM)

Fifth Third Wealth Advisors LLC decreased its stake in Newmont Co. (NYSE:NEM) by 15.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,816 shares of the basic materials company’s stock after selling 2,106 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Newmont were worth $440,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NEM. Zurich Insurance Group Ltd FI purchased a new stake in Newmont in the third quarter valued at $98,011,000. Nordea Investment Management AB boosted its position in shares of Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the period. FMR LLC grew its stake in Newmont by 21.1% during the 3rd 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 last quarter. Assenagon Asset Management S.A. increased its position in Newmont by 262.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after buying an additional 1,096,905 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Newmont by 29.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock valued at $197,976,000 after buying an additional 1,074,623 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on 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 directly owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock valued at $563,080 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NEM. Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Bernstein Bank boosted their price target on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.80.

Newmont Price Performance

Newmont stock opened at $41.67 on Friday. The company has a market cap of $47.44 billion, a P/E ratio of -27.41, a price-to-earnings-growth ratio of 0.31 and a beta of 0.50. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The business has a fifty day moving average of $40.43 and a two-hundred day moving average of $46.86. 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 (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the prior year, the firm posted $0.36 EPS. The firm’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, analysts predict that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

Newmont 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.