Newmont Co. (NYSE:NEM) Shares Sold by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB trimmed its position in Newmont Co. (NYSE:NEM) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,465 shares of the basic materials company’s stock after selling 9,881 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Newmont were worth $3,181,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NEM. Geode Capital Management LLC increased its stake in Newmont by 1.4% during the third quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after purchasing an additional 326,243 shares during the last quarter. Legal & General Group Plc grew its position in shares of Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after buying an additional 109,084 shares during the last quarter. FMR LLC raised its stake in Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares during the period. Swiss National Bank lifted its holdings in Newmont by 0.3% in the third quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock worth $182,938,000 after acquiring an additional 9,500 shares during the last quarter. Finally, National Pension Service boosted its stake in Newmont by 27.9% in the third quarter. National Pension Service now owns 2,533,077 shares of the basic materials company’s stock valued at $135,393,000 after acquiring an additional 552,698 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NEM has been the topic of several recent research reports. The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Jefferies Financial Group boosted their price target on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Royal Bank of Canada reduced their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. Finally, Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.80.

Newmont Price Performance

Shares of Newmont stock opened at $41.72 on Tuesday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $40.29 and its two-hundred day moving average price is $46.89. The stock has a market cap of $47.50 billion, a PE ratio of -27.45, a price-to-earnings-growth ratio of 0.31 and a beta of 0.50.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. As a group, sell-side analysts anticipate that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced 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 of this dividend was Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the company’s 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 $83,080.00. Following the completion of the sale, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry M. Iv Conger acquired 9,498 shares of the stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 14,077 shares of company stock valued at $563,080 over the last three months. 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.