Newmont Co. (NYSE:NEM) Holdings Reduced by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,243,406 shares of the basic materials company’s stock after selling 25,527 shares during the period. Alliancebernstein L.P. owned 0.11% of Newmont worth $46,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HHM Wealth Advisors LLC boosted its position in 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 acquiring an additional 350 shares during the period. Promus Capital LLC bought a new stake in shares of Newmont during the fourth quarter valued at about $38,000. McIlrath & Eck LLC lifted its holdings 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. Kestra Investment Management LLC bought a new position in Newmont in the 4th quarter valued at about $43,000. Finally, Assetmark Inc. increased its stake in Newmont by 185.9% during the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after buying an additional 820 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

NEM opened at $44.25 on Friday. The firm has a market capitalization of $49.88 billion, a P/E ratio of 15.10, a PEG ratio of 0.41 and a beta of 0.54. The stock has a fifty day moving average of $45.34 and a 200-day moving average of $45.33. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $36.60 and a 12-month high of $58.72.

Newmont (NYSE:NEM) last announced 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. The firm had revenue of $5.65 billion during 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%. Equities analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. Newmont’s payout ratio is 34.13%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NEM shares. TD Securities decreased their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Scotiabank lowered their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Raymond James upped their price objective on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a report on Friday. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. Finally, StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.09.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction 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 completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock valued at $1,388,758 in the last quarter. Company insiders own 0.05% 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.