Newmont Co. (NYSE:NEM) Shares Sold by Rathbones Group PLC

Rathbones Group PLC decreased its stake in shares of Newmont Co. (NYSE:NEM) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,796 shares of the basic materials company’s stock after selling 1,525 shares during the period. Rathbones Group PLC’s holdings in Newmont were worth $3,231,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in NEM. HighPoint Advisor Group LLC grew its position in Newmont by 3.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 219 shares during the last quarter. Confluence Investment Management LLC lifted its holdings in shares of Newmont by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after purchasing an additional 281 shares during the last quarter. Howard Capital Management Inc. grew its position in Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 292 shares in the last quarter. Intact Investment Management Inc. lifted its position in shares of Newmont by 21.4% in the fourth quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 300 shares in the last quarter. Finally, Fiduciary Financial Group LLC grew its stake in Newmont by 3.6% in the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after purchasing an additional 303 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

NEM opened at $44.83 on Tuesday. The stock has a market capitalization of $50.54 billion, a P/E ratio of 15.30, a PEG 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 $36.60 and a 12-month high of $58.72. The stock has a 50-day moving average price of $45.41 and a 200-day moving average price of $45.16.

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

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.23%. Newmont’s payout ratio is 34.13%.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research analyst reports. Raymond James raised their target price on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a report on Friday. The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. TD Securities decreased their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada lifted their price objective on Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $54.09.

Insider Activity

In other news, 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 sale, the director now directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 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 $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $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 over the last three months. Insiders own 0.05% of the company’s stock.

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.