Claret Asset Management Corp Lowers Stock Holdings in Newmont Co. (NYSE:NEM)

Claret Asset Management Corp cut its stake in shares of Newmont Co. (NYSE:NEM) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,462 shares of the basic materials company’s stock after selling 2,531 shares during the quarter. Claret Asset Management Corp’s holdings in Newmont were worth $1,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NEM. HHM Wealth Advisors LLC raised its holdings in shares of Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 350 shares in the last quarter. Redwood Park Advisors LLC acquired a new stake in Newmont in the fourth quarter valued at approximately $37,000. Promus Capital LLC acquired a new position in Newmont during the 4th quarter valued at about $38,000. McIlrath & Eck LLC raised its position in shares of Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Newmont during the fourth quarter worth $43,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 1.6 %

Shares of NEM opened at $55.08 on Friday. Newmont Co. has a one year low of $36.60 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a 50 day moving average price of $47.14 and a 200 day moving average price of $45.14. The stock has a market capitalization of $62.08 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 0.41 and a beta of 0.54.

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 for the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 1.82%. Newmont’s dividend payout ratio (DPR) is 34.13%.

Wall Street Analysts Forecast Growth

NEM has been the topic of several research reports. TD Securities cut their target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Raymond James boosted their target price on shares of Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $50.00 to $60.00 in a report on Friday, April 11th. Finally, BMO Capital Markets started coverage on Newmont in a research report on Wednesday. They set an “outperform” rating and a $63.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.02.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the sale, the director now owns 49,993 shares in the company, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,154 shares of company stock valued at $825,678. 0.05% of the stock is currently owned by insiders.

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.