Newmont Co. (NYSE:NEM) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC lowered its position in shares of Newmont Co. (NYSE:NEM) by 11.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 179,549 shares of the basic materials company’s stock after selling 22,963 shares during the quarter. Lmcg Investments LLC’s holdings in Newmont were worth $6,683,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hoese & Co LLP acquired a new stake in shares of Newmont in the third quarter worth $27,000. Avior Wealth Management LLC boosted its position in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new stake in Newmont during the 3rd quarter worth $28,000. Highline Wealth Partners LLC acquired a new stake in Newmont in the 3rd quarter valued at $32,000. Finally, McIlrath & Eck LLC raised its position in Newmont by 80.6% in the third 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 period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on NEM. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Bernstein Bank raised their price objective on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $59.00 to $55.00 in a research report on Friday, October 25th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada cut their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average 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.

Newmont (NYSE:NEM) last announced 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 company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’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. Equities research analysts expect that Newmont Co. will post 3.1 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the firm’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 transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, 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 SEC, which can be accessed through the SEC website. Also, Director Harry M. Iv Conger bought 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, with a total value of $400,340.70. Following 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 ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is owned by corporate insiders.

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.